Key Legal framework for for doing business in Australia 

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 Essential Key the legal requirements for doing business in Australia. 

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Business Registrations:

• Obtain an Australian Business Number (ABN), which is essential for tax purposes.

• Consider registering for Goods and Services Tax (GST) if your business meets the threshold requirements.

• Obtain a tax file number (TFN) and comply with pay as you go (PAYG) withholding obligations.

• Optional registrations include business name registration, trademarks, and website domain registration.
   

Type of business structures for your business:

• Individual (sole trader)

• Partnership

• Joint Venture

• Trust

• Company (public or private)

Each structure has its benefits and drawbacks. understanding its differences for your business needs is an essential requirement. 
 

Company immigration 
The Temporary Skill Shortage visa (TSS, the subclass 482 visa), is a temporary work visa for working for a designated employer. 

• Standard Business Sponsorship (SBS) Approval: The sponsoring organization (your prospective employer) must apply for SBS approval.

• Nomination Approval: Once SBS approval is granted, the employer nominates a specific position for the TSS visa. The nominated position must align with an occupation on either the Short-Term Skilled Occupation List (STSOL) or the Medium and Long-Term Strategic Skills List (MLTSSL).

• 482 Visa Application: You, as the skilled worker, apply for the TSS visa.Visa Duration: The TSS 482 visa allows you to work in Australia for up to two or four years, depending on the type of work you’ll be performing.
   

Australia's major regulation authorities

• The Australian Competition and Consumer Commission (ACCC)

• The Foreign Investment Review Board (FIRB)

• The Australian Prudential Regulation Authority (APRA)

• Australian Securities and Investments Commission (ASIC)

• The Australian Competition and Consumer Commission (ACCC)

• The Australian Taxation Office (ATO)

• Australian Business Registry Services (ARBS)

• Australian Securities Exchange (ASX)

• Reserve Bank of Australia (RBA).

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Anti competition and Fair Trading Laws:

• Ensure your business operates fairly and competitively.

• Familiarize yourself with the Australian Consumer Law, which protects consumers and sets standards for business conduct.

• Understand the Competition and Consumer Act, Australian standards, and relevant Codes of Conduct.

• Pay attention to aspects like pricing, product labeling, and warranties and refunds.
   

business  contracts:

• When entering into agreements, whether verbal or written, understand the terms of the contract.

• Ensure that your contracts are legally enforceable and clearly define rights and obligations.
   

Privacy Laws:

• If you collect and store customers’ personal information, comply with privacy laws.

• Understand how to handle personal data, especially regarding direct marketing purposes.
   

Employment Laws:

• When hiring employees, adhere to legal obligations:

• Pay correct wages.

• Abide by work health and safety (WHS) regulations.

• Provide workers’ compensation insurance.

• Comply with any requirements related to working with vulnerable people or children.

Intellectual property (IP) law:

• protect the rights of creators and owners of inventions, including music, literature, designs, or artistic expressions. 

• Trade Marks: Protect brand names, logos, and distinctive signs associated with goods and services.

• Patents: Grant exclusive rights to inventors for their inventions or innovations.

• Trade Secrets: Guard confidential business information.
   

Taxation law in Australia ​

• Income Tax: The most common type of tax, levied on individuals and businesses.

• Goods and Services Tax (GST): A consumption tax on most goods and services.

• Capital Gains Tax (CGT): Applies to the sale of assets like property or shares.

• Payroll Tax: Paid by employers based on their payroll expenses.

• Fringe Benefits Tax (FBT): Relates to non-cash benefits provided to employees.

• Superannuation Tax: Pertains to contributions and earnings within superannuation funds.

• Stamp Duty: Imposed on certain transactions (e.g., property purchases).

• Excise Duties: Applied to specific goods (e.g., alcohol, tobacco, fuel).

• Customs Duties: Levied on imported goods.
   

Dispute Resolution System in Australia 

• Alternative Dispute Resolution (ADR) - ADR processes involve an independent third party assisting parties in resolving disputes.

• These processes do not include judicial determinations (court decisions).

• mediation: A mediator assists disputing parties in reaching a mutually acceptable resolution.

• conciliation: an independent third party known as a conciliator assists disputing parties in reaching an agreement. 

• Arbitration: a practitioner evaluates with expert evidence the dispute and decides.  Commonly used in commercial disputes, construction contracts, and international matters.