All business owners need to register the business and the business name. A number of specific taxes could be applied to the new business. There are required registration procedures in place, depending on certain particular considerations as mandated by law. These include registering for the following: 1. Goods and Services Tax (GST) 3. Tax File Number (TFN), and 4.
Pay As You Go (PAYG) Withholding Tax Otherwise known as a trading name, a business name is a name or title under which an individual or any other legal entity trades or does business. Australian Business Number (ABN) 2. A business name identifies the business to customers and differentiates the business’ brand from competitors. It is considered one of the, if not themost valuable asset of a business organisation.
Check if the name is still. See full list on mybusiness. Determine which business structure suits the business venture and its current and future business goals.
Determine whether the business will be registered as a sole proprietorship, a partnership, a trust, or a company. Each business structure comes with specific taxation, health and safety obligations, and regulatory requirements.
Different businesses and business structures require different licences to start operations. Seek advice from a lawyer and other relevant professionals to cover all licensing requirements specific to the business to avoid fines and legal difficulties. The principles cover how businesses ought to: 1. Handle, manage, and process personal information 2. Use personal information for direct marketing purposes and other relevant activities 3. The checklist includes questions to help inform a business owner’s obligations in the use, management, and processing of personal information, including particular considerations that may or may not apply to the business. Independent contractors are self-employed individuals who provide service to the business. They usually negotiate their work arrangement specifics and remuneration.
As independent contractors can work for a range of other clients, they may or may not provide exclusive service to the business. An independent contractor’s status can affect work rights and obligations. Before entering into a contract with independent contracts, understand that a person can both be an employee and an independent contractor for two different businesses. It is against labour laws to force an employee to change employee status and become a contractor.
It is also against labour laws to threaten and fire employees for refusal to become a contractor. Workers who believe that they’re being bullied or who have and is experiencing workplace bullyingcan resolve the issue by escalating the said issue and to the Fair Work Commission. If an employee has continuously demonstrated incompetence, a business owner may decide to terminate employees. The Fair Dismissal Code enumerates the rules in legally terminating an employee.
For small businesses with employees fewer than 1 the code that business owners need to comprehensively understand and abide by is the Small Business Fair Dismissal Code. Fair Trading Laws – For your business to be legal it has to follow fair trading laws. Legal requirements for companies.
Here we outline your legal requirements. Set up a registered office, place of business and directors. Every country has different requirements for business owners, so finding the information you need about the legal side of running a small business can be tricky. That’s why we’ve compiled this list of some of the important things you need to consider before you open for business. The first step in starting a personal training business is to choose your business structure.
Keep in mind that your choice is not permanent. As your client base changes or grows, you can always restructure to suit your new needs. The most common business structure for a personal trainer is to operate as a sole trader. However, some use a company.
Both options have their benefits. In general, a sole trader has minimal setup costs while a company protects your personal assets, like a mortgage, from being claimed by creditors to pay business debts. At a minimum, you must have a Certificate III in Fitness.
This will allow you to become a gym instructor and run organised classes. In addition, you may need other licences. For example, if you are training people under the age of 1 you will need to apply for clearance to work with children.
If you will be training in a public place such as a park, you generally need to apply to the local council for approval to use their land for a business purpose. Finally, if you intend to train using workouts with a registered trade mark (e.g. CrossFit or Zumba) you need to have the appropriate qualifications.
You will often need to be certified by the organisation tha. As a personal trainer, it is important to have a clear client agreementthat your clients must accept before they train with you. The client agreement should detail what services you will provide, what the client is required to do and have clauses to limit your overall liability. You should not simply use a generic client agreement downloaded online.
A client agreement for a personal training business needs two important disclaimers. First, your client agreement should include a disclaimer about your clients’. Your clients must be clear that you will not be responsible for their outcomes. Otherwise, you could be at risk for misleading them about what you are offering, even if they do not put in the necessary work.
Secondly, you need to include a disclaimer that says you are not responsible for any injuries your clients sustain. Any fitness training program entails an inherent risk of injury, and it is the client’s responsibility to ensure that they receive medical clearance t. Once you have the client agreement ready, you will need to advertise for clients. When choosing a business name, you should search the Trade Mark Registerto ensure that no one has previously registered that name as a trade mark. This will give you the exclusive right to use your chosen name and allow you to stop other personal trainers from using it. Sole trader: an individual operating as the sole person legally responsible for all aspects of the business.
Like other structures, as a sole trader you can employ people to help you run your business. Company: a legal entity separate from its shareholders. Read about the differences between a sole trader and a company to understand the tax differences, your potential personal liability and the legal o. When deciding on a structure for your business, choose the one that best suits your business needs, keeping in mind that there are advantages and disadvantages for each structure. Your business structure can determine: 1. To ensure you choose the right structure and type of business , consider talking to a professional business advisor, accountant or solicitor for advice.
Search Advisory Services for your nearest government-funded business advisor. State governments can also help you with information and guidance on assessing business opportunities. Understand the main types of business structures. Get some tips on managing your finances. Explore our industry fact sheets to find out more about the specific requirements of your industry.
Read more info about changing business structures and th. Starting a business can be rewarding and exciting, but it’s important to get the legalities right in the beginning. Here are our top five legal considerations when starting your own business : 1. You don’t have to register for a business name if you register a company and use the company name as your business name. There are also strict rules around how franchisees are to enter into a franchise agreement. For example, you must give franchisees a copy of theFranchising Code of Conductalong with the franchise agreement.
Starting a photography business may take a lot of work, but it may be a very rewarding decision in the long run. But these laws can’t guarantee your success – a franchise can fail, just like any other business. Find out the legal requirements for setting up a sports club here.