Code of practice- guidelines for

a business on how to deal with customers

Taxation is the ? payment of a ? of earnings to the

compulsory, proportion, government

Work cover insurance may cover:•

medical and rehabilitation treatment costs, legal costs

the address of the business’s website on the internet

Companies pay income tax of

-30% turnover > $10 mil -28.5% turnover < $10 mil

Stamp duty•is Imposed on the ?Land tax is Annually levied on the ?

individual or business, owner of the land

Businesses need to register their business name, except when

the name is that of the owner, and then it is optional

Worksafe Victoria is a government agency that aims to

reduce workplace injuries & support injured workers

Individuals on the other hand pay a progressive tax rate,

whereby the rate of tax increases with the amount they earn

All business owners have a ? to observe the statutory regulations when ? and ? a business

legal obligation, commencing, operating

Australian federal and state laws aim to create a ? market for both ?

fair and safe, consumers and businesses

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Legal requirements for establishing a business

19 termsStudBud Administration273 plays

Overview of strategies businesses can use to ensure that they are fulfilling their legal requirements.

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Questions 19

Answers

1
Code of practice- guidelines for
an employee going through financial restructure
a business going through business transformation
a business on how to deal with customers
implementing strategies to consider resources
2
Federal taxes: Systems Go Tax (SGT) is imposed on the
consumer
employee
none of the above
employer
3
Taxation is the ? payment of a ? of earnings to the
compulsory, payment, ombudsman
voluntary, subsidised, government
voluntary, proportion, government
compulsory, proportion, government
4
The principle objectives of work health and safety regulations include:
CONTINUOUS IMPROVEMENT TO WORK HEALTH & SAFETY
ADVICE,INFORMATION, EDUCATION & TRAINING
UNION & EMPLOYER
ALL OF THE ABOVE
5
Federal taxes: Fringe benefits tax (FBT) is imposed on the
none of the above
consumer
employer
employee
6
Federal taxes: Goods and services tax (GST) is imposed on the
employer
none of the above
consumer
employee
7
Work cover insurance may cover:•
medical & malpractice suits, replacement of impropriety
medical and rehabilitation treatment costs, legal costs
medical, fraudulent, legal cost
replacement of lost income, reinstatement of all titles
8
domain name is .....
the address business support services are found
the website allocated to all new businesses
the name of the establishment the christmas carols are held
the address of the business’s website on the internet
9
State laws: Consumer Affairs Victoria provides state specific laws such as the
States Law Act 2012
Fair Trading Act 1999
Murphy's Law 1986
none of the above
10
Companies pay income tax of
15% if there expenditure outweighs their product input
-30% turnover < $10 mil -28.5% turnover > $10 mil
35% if there expenditure outweighs their product input
-30% turnover > $10 mil -28.5% turnover < $10 mil
11
Stamp duty•is Imposed on the ?Land tax is Annually levied on the ?
business entity, individual him/herself
individual or business, owner of the land
consumer, owner of the land
consumer, individual or business
12
Businesses need to register their business name, except when
ASIC has denied the business name
they don't believe they have to
the name is that of the owner, and then it is optional
they are becoming are becoming a separate legal identity
13
businesses that do not obey the law risk
losing customers
all of the above
their reputation
being fined, or losing the right to continue trading
14
Worksafe Victoria is a government agency that aims to
complete safety checks as per the zoning act of 2012
reduce workplace injuries & support injured workers
protect the rights of employers & reduce workplace injuries
reproduce workplace injuries for legal representation
15
Federal taxes: Group tax — pay as you go (PAYG) is imposed on the
consumer
employee
none of the above
employer
16
Individuals on the other hand pay a progressive tax rate,
whereby the rate of debt decreases with the amount they earn
whereby the rate of tax increases with the amount they earn
whereby the rate of debt increases with the amount they earn
whereby the rate of tax decreases with the amount they earn
17
All business owners have a ? to observe the statutory regulations when ? and ? a business
duty, owning, running
legal obligation, commencing, operating
duty, commencing, operating
legal obligation, establishing, re-financing
18
Income tax is calculated differently for
individuals and unions
partnerships and private companies
employees and employers
individuals and companies
19
Australian federal and state laws aim to create a ? market for both ?
unionised, consumers and businesses
feasible, employee and employer
fair and safe, consumers and businesses
fair and safe, feasibility and structure

Legal requirements for establishing a business Flashcards | StudBud