Meaning of eligible business
5 Meaning of eligible business
A business is an eligible business if—
an entity holds an Australian Business Number for the business; and
the business—
is registered for GST; and
is not operated by a public company within the meaning of the Corporations Act; and
has its headquarters, and operates at premises, in Queensland; and
has a total of at least 2, but not more than 199, full-time employees or equivalent full-time employees.
For subsection (1)(b)(iv), 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—
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.
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