TASK: Bel Adams the head Chef and Jess Hadid the manager are work colleagues in a Brisbane restaurant. They have been working together for 8 years now and they have a good relationship. Bel Adams, the head chef has new recipes that their current owner doesn't allow him to introduce, thus with the help of Erica they want to start a new restaurant in Sydney. Bel and Jess are very confident as they have got positive reviews by trying their new recipes with their friends and families. They want to start doing catering for events as well. Jess thinks this is a good sign and thus likes to venture this along with Bel in starting a business. Bel will take care of the cooking and other kitchen requirements whereas Jess will manage the business. They both have knowledge about the recipe, cost involved. They need advice about the business plan to be created for their business. They are unsure about the business set up and their Australian financial obligations (taxation, superannuation) and they both don't want to be personally liable for the business debts. Each of them is contributing $400,000 as cash as capital. They are planning to employ 2 fulltime employees by paying $65000 each excluding superannuation casuals if needed. They would like to Bank with National Australian Bank. They would also be buying the following assets: Dining Table 20 pieces @ $1100 each Chair 50 pieces @ $85 each Kitchen utensil varieties total cost is @ S 25000 They are wishing to start the business by lst of July 2022 as they have already finalized location. The rental charges would be $3300 monthly. They are expecting to make a monthly turnover of $44000 excluding GST. They also would like to know whether their business would be considered as a small business entity or medium large or large business entity. They are planning to provide credit to customers (Event management) as they are new in market thus choosing accrual basis for accounting purposes. As they are unsure about the legal and tax obligations requirements to start and run a business, they seek your help regarding this. The following are the questions that they are seeking help with. (Please write a business report for the following) \fAnalysis (20 marks. Approximately 1500- 2000 words) 1. Executive Summary (2.5 Marks) (250 words) 2.Business structure (2.5 Marks) (250 words) Identify accurately and advice the best suited business structure for Bel and Jess along with its benefits? (Discuss about why the other structure are not best suited) 3.Registration requirements (2.5 Marks) Outline the basic business registration and insurance requirements for the recommended business structure? 4.Tax Obligations (10 Marks) Identify and advice the tax obligations 1.BAS reporting Obligations, (2.5 marks) 2.5uperannuation Obligations, (2.5 marks) 3.Gst Reporting Obligations (2.5 marks) 4. Payroll Obligations (Single touch Payroll) for the recommended business structure with references to legislation (2.5 marks) (You can use www.ato.gov.au website for further references) 5. Presentation with no errors is awarded (2.5 marks) (You can use Microsoft word to work on your assignment writing your report using APA reference style)