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Business Registration Law in Perth, Australia, forms part of the broader Australian Federal Law that governs how a business is established, registered, and operated. Every business operating in Perth is mandated to register their business name with the Australian Securities and Investments Commission (ASIC), unless they're operating under their own name. Moreover, companies are also required to get an Australian Business Number (ABN) and a Tax File Number (TFN). Depending on the nature and scale of operations, additional registrations may be required such as GST, PAYG withholding, etc.
Navigating the legal requirements of business registration can be complex and the implications of making a mistake are severe. A lawyer can guide in understanding your obligations, ensuring all applications are filled out correctly, and help avoid penalties for any non-compliance. Legal assistance is often beneficial in following situations: drafting partnership agreements or incorporation documents, understanding tax obligations, or paperwork for special licenses and permissions that certain businesses might need.
In Perth, businesses are subject to both state and commonwealth legal regulations. Key local laws include Fair Trading Act 2010 (WA), which discusses responsibilities of business owners and pertains to licensing regulations, and Australian Consumer Law (WA), covering rights and protections for consumers. Additionally, the City of Perth has specific by-laws regulating commercial businesses on issues such as trading hours and zoning.
Australia allows four types of business structures: Sole Trader, Partnerships, Companies, and Trusts. Each come with their own unique advantages, liabilities, and tax implications.
Failure to register a business or comply with the regulations could result in heavy fines, penalties and legal consequences. This could even include the cancellation of the business.
Yes, foreigners can register a business in Perth. However, it requires a legal structure appropriate for your situation and sometimes requires an Australian resident within the management.
Yes, most forms of business registration can be done online through the Australian Government's Business Registration Service.
The registration process duration depends on the business structure chosen. Online applications could be processed in a day, while more complicated structures might take a few weeks.
The Australian Securities and Investments Commission (ASIC) and Australian Business Register (ABR) websites provide extensive resources and databases on business registration. The Perth's Chamber of Commerce and Industry also provides supportive resources for local businesses.
Before starting business registration, consider consulting with a qualified lawyer who specializes in business law in Perth. They will examine your business plan, guide through the registration process and assist in navigating any potential future legal complexities.
