The table below lists a series of legally required actions required for processes that may need to be undertaken for different entity types and stages of business activity.

Using the list below, record one of the following Business Activities in the column that matches the actions outlined:

• Establish Sole Trader
• Business Registration
• Entering a Partnership
• Starting up a Company
• Setting up a Trust

NB: Read carefully, as each list of Actions must fully meet the Business Activity you select. There are two Action lists that will not have a corresponding Business Activity, as they are incorrect or inconsistent.

Legal Entity Obligations and

Actions Business Activity

Register a name

Decide on a structure

Develop a Constitution

Organise shareholder subscription

Elect Directors and Company Secretary

Register your business

Apply for an ABN

Register a business name (if not using your own name)

Register for GST (if required by the ATO)

Apply for an ABN and TFN

Draw up a partner's agreement in writing (outlining conditions, contributions and income distribution)

Appoint a Trustee responsible for determining income distributions

Apply for ABN and TFN

Appoint a Trustee

Develop Trust Deed

Lodge details with ASIC to apply for ACN and certificate of registration

Register business name if not conducting business in that name

Decide on a structure and nominate the beneficiaries

Develop a deed of membership

Organise a shareholder subscription

Elect directors and appoint the Managing Director and Company Secretary

Register your business name

Draw up a partner's agreement in writing (outlining conditions, contributions and income distribution)