Professional Documents
Culture Documents
Part. A..................................................................................................1
I. Introduction.................................................................................1
1. Overview of the business............................................1
2. Target Market:..............................................................2
II. Core Activities:..............................................................................2
III. Business Structure.......................................................................3
1. Advantages and Disadvantages of Business:.............3
IV. Legal Requirements....................................................................4
PART B................................................................................................4
V. 10 Licenses and Permit listed:....................................................5
VI. OBLIGATIONS:............................................................................6
1. Basic taxation to operate a business...........................6
2. Superannuation obligations:........................................6
3. Fair work obligations:...................................................7
4. Privacy obligations:......................................................7
5. Fairtrade Australian consumer law obligations:...........7
VII. Insurance Policy..........................................................................8
1. Compulsory Insurance Policies...................................8
2. Asset Protection Insurance Policies............................8
3. Income Protection Insurance Policies.........................9
VIII. Scenario where legal advice obtained...................................9
IX. Conclusion:.................................................................................11
X. Reference:....................................................................................12
Part. A
I. Introduction
1. Overview of the business
24h reception
Conference Facilities
On-site parking
Non-smoking
On-site restaurant
In a feel-good, cheerful setting, James Street Bar & Kitchen gives a modern
approach to casual food and creates diverse Western Australian meals.
Advantages Disadvantages
• Shareholders' liability is limited; • The company's formation,
maintenance, and dissolution can be
• It's simple to transfer ownership by costly;
selling shares to a third party; and
• The reporting requirements can be
• Shareholders (typically family complicated;
members) can work for the company.
• The company's financial concerns are
• The organization can conduct open to the public.
business throughout Australia.
• Directors may be held personally
• Tax rates can be lower, and you'll accountable for the company's debts if
have access to more capital and talents. they fail to meet their legal
commitments.
3. Goods and Services Tax (GST): is a ten percent tax on almost all goods,
services, and other items sold or consumed in Australia.
4. Tax File Number (TFN): is a tax and superannuation personal reference
number obtained from the Australian Taxation Office (ATO).
5. Pay As You Go (PAYG) withholding Tax: It is a withholding tax that requires
businesses to pay the ATO an additional portion of their business income.
These contributions will be applied to your anticipated income tax liability at
the end of the year.
PART B
V. 10 Licenses and Permit listed:
VI. OBLIGATIONS:
A corporation has its tax file number (TFN) and, in most circumstances, an
Australian Business Number (ABN), and it files its tax return. Even though the
partnership does not pay taxes, it is required to prepare a tax return that shows
how profits were distributed to each member. The profits of the company are
shared among the stakeholders per the company agreement once the ATO has
examined this return. The ATO will assess each stakeholder's part of the profit (or
loss) by adding it to their income tax.
2. Superannuation obligations:
• $10 000 000 • three times the value of the benefit received, or
Business needs to take out Victorian Work Cover Authority insurance policy if:
This insurance protects you against the loss of your belongings due to
theft. Theft insurance is required for items like computers and stocks.
LAPI Asset Protection Insurance is a viable option.
• Up to $1,000,000 to pay off the home loan in the event of death, and if
there’s any leftover, it will be paid to the family to use however they
like.
• Up to $7,500/month to cover monthly repayments if unable to work due
to serious illness or injury, for up to 30 months.
• Up to $7,500/month to cover monthly repayments if become
involuntarily unemployed, for up to 90 days. - Can be applied through
various insurance providers such as AMO and ANZ mortgage
protection
Fair Trade
Legal Advice:
3. If FruiKat fails to meet its duties, the hotel can file a complaint with the
Australian Competition and Consumer Commission (ACCC) or their
local consumer protection agency, or have the matter heard by a small
claims tribunal in their area.
Fair Work
Employees at the DoubleTree hotel have been complaining for the past five
months that they are not receiving their regular pay rate. They attempted to get
management to address the problem, but despite receiving letters from their
employees, management remained silent.
Legal Advice: If an issue cannot be resolved between the employer and the
employee, employees can seek the assistance of the Fair Work Ombudsman. They
can submit a detailed report online at fairwork.gov.au, or they can pursue a claim in
court.
Taxation
A full-time manager works over 50 hours every week. When the Manager
prepares to file his income tax return, he expects to receive a large refund because
he has worked hard. However, when he checked his mygov account online, he
discovered that he had only paid a total of $3000 in tax for the 2020-2021 financial
year and that he would not be eligible for a full return because he made a total of
30,000 AUD. He tried to file his tax return and still tried to get the full 4,000 AUD
refund by forging Official Receipts for the items he wanted to be refunded. He was
then approved, much to his astonishment. He received an email from the ATO a few
weeks later claiming that he will be audited since they are questioning why he
declared everything on his tax return. When he was asked for the declared receipts,
there is nothing he can show.
Legal Advice:
For not following the ATO's law on allowable working hours and overtime
hours for each employee each week, both the employee and the business
may face charges and fines.
Both employee and employer must keep records of payslip on each pay
period carefully following the legally allowed working hours together with
the proper award and pay rate.
In this instance, the employee will face penalties and hefty fines from the
ATO for providing false or misleading information while claiming a tax
refund. Depending on the court's rulings, he may have to pay more and
serve time in prison.
IX. Conclusion:
X. Reference:
https://www.business.gov.au/planning/new-businesses/legal-essentials-
for-business
https://ablis.business.gov.au/search/questions?
baName=Hotel+bar+operation&baName=Hotel+operation&psId=2222&g
pId=358&bsId=1&bsId=2&bsId=3
https://business.gov.au/planning/business-structures-and-types
https://www.accc.gov.au/publications/travel-accommodation-an-industry-
guide-to-the-australian-consumer-law
https://business.gov.au/products-and-services/fair-trading/australian-
consumer-law
https://ablis.business.gov.au/
https://www.fairwork.gov.au/tools-and-resources/fact-sheets/rights-and-
obligations
https://business.gov.au/finance/superannuation
https://www.hilton.com/en/hotels/perdtdi-doubletree-perth-
northbridge/meetings-events/
https://www.hilton.com/en/doubletree/
https://ablis.business.gov.au/service/ag/australian-business-number-
registration/26?bsId=1&bsId=2&bsId=3&modal=true&locations=NSW
https://ablis.business.gov.au/service/ag/goods-and-services-tax-gst-
registration/78?bsId=1&bsId=2&bsId=3&modal=true&locations=NSW
https://ablis.business.gov.au/service/ag/national-business-name-
registration/370?bsId=1&bsId=2&bsId=3&modal=true&locations=NSW
https://ablis.business.gov.au/service/nsw/recognised-competency-card-
gaming-/37371?bsId=1&bsId=2&bsId=3&modal=true
https://ablis.business.gov.au/service/qld/commercial-hotel-licence/4245
https://www.business.qld.gov.au/industries/hospitality-tourism-
sport/liquor-gaming/liquor/compliance/fines-penalties
https://www.finder.com.au/income-protection-super