4A

Question 1

Trade practices legislation

Answer 1

Trade practices legislation are laws which govern how a business interacts with customers and competitors.

Question 2

Tax compliances

Answer 2

Tax Compliance is the extent to which an individual or business meets tax obligations

Question 3

Real world example

Answer 3

BHP Billiton is a natural resource mining company. In 2018, the ATO and BHP settled a longstanding dispute over the payment of taxes by the mining company. This action led BHP paying $529 million of failing to pay tax correctly between 2003 and 2018.

Question 4

The Australian competition and consumer commission (ACCC)

Answer 4

The Australian competition and consumer commission (ACCC) is the legal body which enforces the CCA and ensures business compliances.

Question 5

The Competition and Consumer Act 2010 (CCA)

Answer 5

The Competition and Consumer Act 2010 (CCA) is a law created to govern how businesses interact and engage with customers, competition and suppliers.

Question 6

Website domain

Answer 6

A Website Domain is a website address which is typed in during web searches to visit an online site.