Legal requirements for small business

Legal requirements for small business

You can’t afford to get wages wrong.

If you operate a small business using a business name, you have certain legal obligations.

    Here we outline what you need to do to comply with Australian law.

    Registering your business name

    If you intend to carry on a business under a business name, you must register the name. You do not need to register a business name if:

    • you conduct business under your personal name (e.g. John Smith)
    • you have a company and you conduct business under the company name
    • you are in a partnership and you conduct business under all of the partners’ names (e.g. Smith & Holt)

    If you trade under any other name, see registering a business name to find out how to make your business name legal.

    ASIC may also request information for the purposes of establishing or maintaining the Business Names Register. You must provide this information if requested.

    Registering a business name will not stop someone who has registered the name as a trademark from using it. Find out more about business names and trademarks.

    Changing or cancelling your business name

    You must notify ASIC within 28 days if there’s been a change to the details of your business name. Find out how to change your business name details or cancel your business name.

    Renewing a business name

    You must renew your business name before the renewal date to avoid it being cancelled by ASIC. Get more details on renewing your business name.

    If you become disqualified

    ASIC must be notified where a business name holder, or a person involved in the management of a business name holder, is disqualified from holding a business name.

    You can use ASIC Connect to notify us that you or a person involved in the management of a business name holder is disqualified.

    Using your business name in documents

    If you are conducting business with another entity, any documents you provide must include your business name and Australian Business Number.

     

    IF YOU NEED ASSISTANCE WITH SETTING UP YOUR BUSINESS OR YOU WANT TO DISCUSS YOUR LEGAL OBLIGATIONS PLEASE CONTACT US TODAY.

    Outwest Legal was established to bring high quality and cost effective, legal services to the Greater Western Sydney Region.

    PROPOSED $400 FINES FOR DRUG POSSESION

    PROPOSED $400 FINES FOR DRUG POSSESION

    CHANGES TO DRUG OFFENSES IN NSW.

    People caught in NSW with illicit drugs for personal use would get a $400 fine or undergo health treatment instead of facing court.

      Attorney-General Mark Speakman has put forward the proposal as part of the state government’s response to the Special Commission Of Inquiry Into The Drug “Ice”, which handed down 109 recommendations in 2020.

      The Attorney-General says he supports trialling a “pre-court drug diversion” program that gives police the discretion to issue $400 fines to illicit drug users.

      The penalties would be waived if the offender has health treatment that is referred to in the penalty notice. “Such a scheme would not be ‘soft’ on drug use,” Mr Speakman said. “$400 is more than the average penalty which a drug user will receive in court on a first offence.” Mr Speakman has suggested the offender would only get two infringement notices before facing court.

      President of the Law Society of NSW Joanne van der Plaat said it was time for the government to implement a “health-focused approach” to battling drug abuse.

      “The current prohibitionist approach is not working. We agree with law enforcement authorities who have said we can’t arrest our way out of drug problems,” Ms van der Plaat said.

      “Any further delay on a meaningful response to the Ice Inquiry risks further criminalisation and demonisation of drug users who need rehabilitation, not incarceration.”

      Mr Speakman said, “severe penalties for supply and trafficking would remain in place”.

      IF YOU NEED ASSISTANCE WITH ANY DRUG RELATED CHARGES PLEASE CONTACT US TODAY.

      Outwest Legal was established to bring high quality and cost effective, legal services to the Greater Western Sydney Region.

      The National Minimum Wage

      The National Minimum Wage

      You can’t afford to get wages wrong.

      As of 1 July 2021 the National Minimum Wage is $20.33 per hour or $772.60 per week.

        Paying correct wages is one of the hardest things for employers to get right.

        The National Minimum Wage applies to employees not covered by an award or registered agreement. This is the minimum pay rate provided by the Fair Work Act 2009 and is reviewed each year.

        Not only is there a base rate of pay, but there are often penalty rates, allowances, additional benefits for annual and sick leave. There are also requirements concerning commission payments in some industries and much more to take into account when an employer is calculating an employee’s pay.

        Different types of minimum wages

        Some employees have a different minimum wage depending on their employment type, age or work capacity. For more information about pay for these employees, visit:

        There are some awards with special pay rates, or that allow employers to make other pay arrangements. 

        IF YOU NEED ASSISTANCE WITH YOUR BUSINESS EMPLOYEE WAGE OR AWARD STRUCTURE PLEASE CONTACT US TODAY.

        Outwest Legal was established to bring high quality and cost effective, legal services to the Greater Western Sydney Region.

        TYPES OF BUSINESS STRUCTURES

        TYPES OF BUSINESS STRUCTURES

        What you need to know about business structures.

        Understand the key differences between business structures, so you can decide which structure is right for your business..

          Starting a business can be an exciting time. but knowing which business structure is right for you can be a little daunting. 

          Types of business strcutures to consider:

          • sole trader

          • company

          • partnership

          • TRUST

          • CO-OPERATIVE

          • JOINT VENTURE

          • Indigenous corporation

            Your can find useful information via the Business NSW website.

          WE HIGHLY RECOMMEND YOU SEEK PROFESSIONAL LEGAL ADVISE BEFORE YOU DECIDE.

            Choosing the right business structure can maximise tax opportunities and minimise risk, ultimately contributing to the financial success of your business.

            Aside from causing operational pain, the wrong business structure can literally cost hundreds of thousands of dollars over the life of your business.

            IF YOU NEED ASSISTANCE WITH YOUR NEW BUSINESS STRUCTURE OR YOU WANT TO SPEAK TO US ABOUT OUR BUSINESS OBJECTIVES PLEASE CONTACT US TODAY.

            Outwest Legal was established to bring high quality and cost effective, legal services to the Greater Western Sydney Region.

            WHAT IS CONVEYANCING?

            WHAT IS CONVEYANCING?

            Why you may need a licensed conveyancer.

            Conveyancing is the legal work involved in preparing the sales contract, mortgage and other related documents.

              While you can do your own conveyancing, most people engage a licensed conveyancer or solicitor.

              Who can do conveyancing work? 

              • A licensed conveyancer

              • A solicitor

              • You can do it yourself

              What is the conveyancing process?

                Conveyancing can involve these steps:

                • examining the contract for sale
                • arranging building and pest inspections
                • examining a strata inspection report (if the property is in a strata scheme)
                • arranging finance if necessary
                • exchanging the contract of sale
                • paying the deposit
                • arranging payment of stamp duties
                • preparing and examining the mortgage agreement
                • checking if there are outstanding arrears or land tax obligations
                • checking if swimming pool compliance documentation is needed
                • finding out if any government authority (eg. local council, Sydney Water, NSW Roads and Maritime Services) has a vested interest in the land or if any planned development could affect the property
                • finding out any information that may not have been previously disclosed such as a fence dispute or illegal building work
                • calculating adjustments for council and water rates for the property settlement
                • overseeing the change of title with Land and Property Information NSW
                • completing any final checks prior to settlement
                • attending settlement.

                IF YOU NEED ASSISTANCE WITH YOUR NEXT HOME PURCHASE OR YOU WANT TO SPEAK TO US ABOUT OUR CONVEYANCING SERVICES PLEASE CONTACT US TODAY.

                Outwest Legal was established to bring high quality and cost effective, legal services to the Greater Western Sydney Region.