AOS1 legal requirements

Question 1

business name registration

Answer 1

prohibits anyone else from trading under a similar name, and allows consumers to identify the owner of the business name

Question 2

registering a domain name

Answer 2

referring to the web address on the internet, should accurately represent the business and the activities, registered through the Australian Domain Administration website

Question 3

taxation compliance

Answer 3

• a business owner will need to obtain a Tax File Number (TFN) for the business. this number assists with managing tax and other government services
• companies pay a flat rate of 30% and smaller businesses with less than 50m turnover pay 25%
• all businesses must pay GST 10%, Stamp duty, PAYG, Land tax
• businesses submit a Business Activity Statement(BAS) which is a form submitted to the ATO that shows the income earned during the period as well as any GST and PAYG obligations.

Question 4

workplace health and safety(OH&S)

Answer 4

The Occupational Health and Safety Act 2004 aims to
- ensure the health and safety of employees and others at work