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The type of business structure chosen for this restaurant is a sole trader. In case of legal and financial implications of a sole trader, he will be taxed as an individual and pay the tax at personal tax rates as per Australian law. The business income of this restaurant will be declared as per personal income tax return along with other assessable income sources.
The sources of finance in this business structure are limited to the individual. Being an Australian resident, the sole trader will be entitled for tax-free threshold of first $6000 of earning of the income year.
Orginal Price : $33.80
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