29BSmall businesses

#### 29B Small businesses (1) This regulation explains whether a business is a small business for this Division. (2) If the business has operated in the last completed financial year, and its turnover in the last completed financial year is known, the business is a small business if: (a) its turnover in the last completed financial year was less than $1 000 000; and (b) the total number of hours worked each week by the employees of the business is no more than 190 hours (whether or not the employees are employed on a full‑time, part‑time or casual basis). > Note: 190 hours is the equivalent of 5 employees each working a 38 hour week. (3) If: (a) the business did not operate in the last completed financial year; or (b) the turnover of the business in the last completed financial year is unknown; the business is a small business only if the number of hours worked each week by the employees of the business is no more than 190 hours (whether or not the employees are employed on a full‑time, part‑time or casual basis). > Note: 190 hours is the equivalent of 5 employees each working a 38 hour week.