Quick questions on Legal requirements when establishing a business (VCE Business Management Unit 2)

When an Australian entrepreneur establishes a business, the typical legal sequence is:

Four main structures in Australia.

If trading under a name other than the owner's legal name, register through ASIC. Cost is $44 for one year or$102 for three years (FY24-25 rates). Registration grants the right to trade under the name but does not provide trademark protection.

Four main forms of IP protection in Australia. IP Australia (the federal IP office) administers most.

Mandatory if turnover is or will exceed $75,000 per year ($150,000 for not-for-profits). Once registered, charge 10 percent GST on most sales, lodge Business Activity Statements (BAS) quarterly or monthly, and claim input tax credits on business-related GST paid. Voluntary GST registration is allowed for smaller businesses.

Mandatory if employing staff or paying directors. The business withholds tax from each pay run and remits it to the ATO.

Mandatory employer super contributions on top of wages (11.5 percent in FY25, rising to 12 percent from FY26 per the legislated schedule). Paid to the employee's chosen super fund quarterly.

Payroll tax (state-based, kicks in above a threshold - $900,000 in Victoria for FY24), Fringe Benefits Tax, Land Tax, stamp duties.

Imagine the founders of a cafe being set up in Carlton in 2025. The legal-establishment steps:

Marks come from specific regulators, specific steps, and a real sequence.