SITXGLC001: Research and Comply with Regulatory Requirements - Asset Protection Insurance Policies - Management Assignment Help

Assignment Task:

Placement Assessment 1 - 
This assessment is to be prepared in the form of a professional research report, including introduction, body, conclusion, and references. The purpose of this assignment is to identify a business’s legal obligations and liabilities to all stakeholders. These stakeholders are owners and investors, employees and contractors’ suppliers and service providers as well as various levels of councils and government departments. The business's obligations are to ensure it is compliant with all laws and codes that apply to it and remain compliant over time as laws and codes may change. 
 
PART A - (SITXGLC001)
You are required to look at a small hotel of your choice within the hospitality and travel industry, for example, a hotel that offers 50 plus rooms, restaurant, bar, function room, concierge or booking service as well as guest facilities such as a pool or gym and car park. 
 In the introduction please identify 
• The business,  
• The location.  
• The opening/closing hours.  
• Target market.   
 

1. The business must be licensed and located within the capital city of a state or territory in Australia where work placement is undertaken.  
2. What are the core activities of this business and what are the products and services offered.? 
3. What is the type of business structure that it has and explain the advantages and disadvantages of this structure? 
4. List and explain the legal requirements to both the government and the various stakeholders when opening and operating your business. 

Part B - (SITXGLC001)
Research and outline 10 licenses and or permit that your business will require by using the following links. Show who regulates the license, what the cost of the license as and what the penalty and risk maybe for not having the license. Put this into a table format                                                               

1. Fill in the application with APRA for a music license for your restaurant and include the completed application form.
2. Define your Taxation and superannuation obligations, fair work obligations, Privacy obligations, and fair-trade Australian consumer law obligations  
3. List and explain two compulsory insurance policies that a business must have and who provides them.                                                                                                                                                     
4. List and explain two types of asset protection insurance policies that a business should have and who provides them  
5. List and explain two income protection insurance policies that a business could have and who provides them.  

Outline three brief scenarios where external legal advice needs to be obtained.  
Use one of each key area of  
• Fait trade,  
• Fair work  
• Taxation.  Clearly define an issue for each. The department and legislation of each and who can provide appropriate legal advice

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