Meaning of eligible business
5 Meaning of eligible business
A business is an eligible business for a round of the scheme if—
the business has, since the relevant date for the round, ordinarily provided tourism services using 1 or more eligible boats; and
the business has its headquarters in Queensland; and
the business has, after the relevant date for the round, suffered a loss of income because of the COVID-19 travel restrictions; and
the owner of the business—
holds an Australian Business Number for the business; and
has continuously held the same Australian Business Number for the business since the relevant date for the round; and
the business is, and has since the relevant date for the round been, registered for GST; and
on the relevant date for the round, the business had—
the relevant number of full-time employees for the round; or
if the business had employees other than full-time employees—the relevant number of equivalent full-time employees for the round; and
for round 1—either—
the annual turnover of the business for the 2018–2019 financial year or the 2019–2020 financial year was more than $75,000; or
both of the following apply—
the business has been operating for a period of less than 1 financial year;
according to its financial records, the turnover of the business for the period was more than the proportion of $75,000 per financial year attributable to the period; and
Example for sub-subparagraph (B)—
A business has been operating for 250 days. The turnover of the business, according to its financial records, for the 250-day period must be more than $51,369.86.
for round 2—either—
the annual turnover of the business for a relevant previous financial year was more than $75,000; or
both of the following apply—
the business has been operating for a period of less than 1 financial year;
according to its financial records, the turnover of the business for the 2021-2022 financial year can reasonably be expected to be more than $75,000; and
neither an owner, nor a director or shareholder of an owner, of the business is an insolvent under administration.
For subsection (1)(f)(ii), 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 other than full-time employees.
In this section—
employee, of a business—
means an individual who is employed, or usually employed, by the business; and
includes the following persons—
an owner of the business;
a person who performs work under a contract for services with the business, including, for example, a subcontractor.
full-time employee, of a business, means an employee of the business who ordinarily works for at least 35 hours each week for the business.
relevant date, for a round of the scheme, means—
for round 1—1 February 2020; or
for round 2—1 April 2021.
relevant number, of full-time employees or equivalent full-time employees for a round of the scheme, means—
for round 1—at least 1, but not more than 199; or
for round 2—at least 1.
relevant previous financial year means any of the following financial years—
2018–2019;
2019–2020;
2020–2021.
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