Whether you already own a small business or are starting up, you need to be on top of legal and taxation issues for your business to be a success. Written in jargon-free language, this practical guide covers everything you need to know to ensure you stay on the right side of the authorities and don't encounter nasty surprises. It provides up-to-date coverage of: options for ownership structure, approvals, protecting your ideas from competitors, contracts, property, payments and debt management, workplace relations, work health and safety, compliance with trading regulations, state and federal taxes. It also includes extensive examples, exercises, quizzes, and a glossary. There are also extensive web references and handy tips. Written to cover competencies required for the Business Services Training Package, Legal and Taxation Aspects of Your Small Business is an essential text for students studying small business management, and a valuable guide for anyone starting out, or already managing a small business.