sch.27-sec.6Meaning of eligible business

### sch.27-sec.6 Meaning of eligible business A business is an eligible business if— an entity— holds an Australian Business Number for the business; and has continuously held the same Australian Business Number for the business since 23 March 2020; and the business is, and has since 23 March 2020 been, registered for GST; and the business has its headquarters in Queensland; and the business has at least 1, but not more than 19, employees; and 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 A business has been operating for 100 days. The turnover of the business, according to its financial records, for the 100-day period must be more than $20,547.95. the total of the wages and superannuation paid by the business to its employees during the 2018–2019 financial year or the 2019–2020 financial year was less than $1.3m; and neither an owner, nor a director or shareholder of an owner, of the business is an insolvent under administration. sch 27 s 6 prev sch 27 s 6 ins 2015 SL No. 125 s 10 (amd 2015 SL No. 148 s 4 (1) ) om 2019 SL No. 71 s 59 sch 1 pres sch 27 s 6 ins 2020 SL No. 120 s 5 amd 2023 No. 23 s 247 sch 1 s 36 - (a) an entity— (i) holds an Australian Business Number for the business; and (ii) has continuously held the same Australian Business Number for the business since 23 March 2020; and - (i) holds an Australian Business Number for the business; and - (ii) has continuously held the same Australian Business Number for the business since 23 March 2020; and - (b) the business is, and has since 23 March 2020 been, registered for GST; and - (c) the business has its headquarters in Queensland; and - (d) the business has at least 1, but not more than 19, employees; and - (e) either— (i) the annual turnover of the business for the 2018–2019 financial year or the 2019–2020 financial year was more than $75,000; or (ii) both of the following apply— (A) the business has been operating for a period of less than 1 financial year; (B) 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 100 days. The turnover of the business, according to its financial records, for the 100-day period must be more than $20,547.95. - (i) the annual turnover of the business for the 2018–2019 financial year or the 2019–2020 financial year was more than $75,000; or - (ii) both of the following apply— (A) the business has been operating for a period of less than 1 financial year; (B) 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 100 days. The turnover of the business, according to its financial records, for the 100-day period must be more than $20,547.95. - (A) the business has been operating for a period of less than 1 financial year; - (B) 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 100 days. The turnover of the business, according to its financial records, for the 100-day period must be more than $20,547.95. - (f) the total of the wages and superannuation paid by the business to its employees during the 2018–2019 financial year or the 2019–2020 financial year was less than $1.3m; and - (g) neither an owner, nor a director or shareholder of an owner, of the business is an insolvent under administration. - (i) holds an Australian Business Number for the business; and - (ii) has continuously held the same Australian Business Number for the business since 23 March 2020; and - (i) the annual turnover of the business for the 2018–2019 financial year or the 2019–2020 financial year was more than $75,000; or - (ii) both of the following apply— (A) the business has been operating for a period of less than 1 financial year; (B) 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 100 days. The turnover of the business, according to its financial records, for the 100-day period must be more than $20,547.95. - (A) the business has been operating for a period of less than 1 financial year; - (B) 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 100 days. The turnover of the business, according to its financial records, for the 100-day period must be more than $20,547.95. - (A) the business has been operating for a period of less than 1 financial year; - (B) 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 100 days. The turnover of the business, according to its financial records, for the 100-day period must be more than $20,547.95.