Business Legal Business Legal Requirements no Requirements no

66Every business who sells and Every business who sells and

buys goods and services is buys goods and services is affected by lawsaffected by laws

Registration and Registration and licensing licensing

There are over 700 licenses that can be There are over 700 licenses that can be issued to business in order to operate.issued to business in order to operate.

Restaurants, hairdressers etc must Restaurants, hairdressers etc must have a licence to operate.have a licence to operate.

In QLD owners must go to the website In QLD owners must go to the website www.sd.qld.gov.au/dsdweb/htdocs/slol

HAVE A LOOK AT THIS NOW PLEASEHAVE A LOOK AT THIS NOW PLEASE

Registering the business Registering the business namename

Laws cover the names businesses Laws cover the names businesses use. Business must not use the use. Business must not use the same name as another business.same name as another business.

Names can be searched using the Names can be searched using the department of fair trading web pagedepartment of fair trading web page www.fairtrading.qld.gov.au GO TO THIS NOW and click on the GO TO THIS NOW and click on the

names search sectionnames search section

ABNABN

All businesses in Australia must be All businesses in Australia must be registered for an ABN. (Australian registered for an ABN. (Australian Business Number) Business Number)

Once this is done businesses can Once this is done businesses can then choose to register for GST if then choose to register for GST if they earn over a specified amount they earn over a specified amount $70 000$70 000

Employing StaffEmploying Staff

Many factors influence how staff can be paidMany factors influence how staff can be paid Full TimeFull Time Part TimePart Time CasualCasual ContractsContracts

Other factors employers must take into Other factors employers must take into consideration include PAYG – Pay as you go tax consideration include PAYG – Pay as you go tax which is tax withheld from wageswhich is tax withheld from wages

Employers must also contribute 9% super and Employers must also contribute 9% super and have workers compensation insurance.have workers compensation insurance.

ASSIGNMENTASSIGNMENT

Teacher will now distribute the Teacher will now distribute the assignment for you to look atassignment for you to look at