Read the following case study to answer the following question. You are required to browse the different sites, learner guide and conduct research for more information. After you analyse and interpret the information you collected, write down your answers of 150 words to each question.

Naomi's Micro-business After discussing the feasibility of an online clothing store with a few different people and seeking some professional advice, Naomi has decided to pursue this opportunity further. However, she is still not clear about the taxation obligations that may apply to her business and how can she ensure satisfactory compliance with these requirements. Naomi is also concerned about the fact that failing to comply with her taxation obligations can result in serious consequences for her business. Naomi would like your opinion about some of these issues and how to effectively deal with them. (Please log onto the ATO (Australian Taxation Office) and research under small business.

Question 1)What are some of the taxation obligations and requirements that are applicable to a micro-business such as an online clothing store?