Meaning of eligible business
4 Meaning of eligible business
A business is an eligible business if—
the business—
holds an Australian Business Number for the business; and
has continuously held the same Australian Business Number since 1 January 2023; and
the business is, and has been since 1 January 2023—
registered for GST; and
trading from premises in Queensland, primarily in a tourism industry; and
on 1 January 2023, the business—
had no employees; or
employed fewer than 20 full-time employees; or
if the business employed employees other than full-time employees—employed fewer than 20 equivalent full-time employees; and
none of the following entities is an insolvent under administration or an externally administered entity—
the business;
if the owner of the business is a sole trader—the owner;
if an owner of the business is a partnership—the partners in the partnership;
if an owner of the business is a trust—the trustees of the trust;
if an owner of the business is a company—the company or the directors of the company.
However, a business is not an eligible business if the business is a body corporate under—
the Body Corporate and Community Management Act 1997; or
the Building Units and Group Titles Act 1980.
For subsection (1)(c)(iii), the number of equivalent full-time employees of a business is worked out using the formula—
where—
E means the number of equivalent full-time employees of the business.
F means the number of full-time employees of the business.
P means the total number of hours worked each week by employees who are not full-time employees.
In this section—
externally administered entity, in relation to a business, means the business is a Chapter 5 body corporate within the meaning of the Corporations Act, section 9.
insolvent under administration, in relation to a business, see the Corporations Act, section 9.
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