sch.37-sec.5Meaning of eligible business

### sch.37-sec.5 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 30 June 2021; and the business is registered for GST; and the business has its headquarters in Queensland and was trading in Queensland on 31 July 2021; and the business has at least 1 employee; and either— the annual turnover of the business for any of the relevant financial years 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 for a business that paid wages and superannuation to its employees during any relevant financial year totalling more than $10,000,000—the primary activity of the business is a tourism and hospitality activity; and none of the following entities is an insolvent under administration or is in administration, receivership or liquidation— the business; if the owner of the business is a sole trader—the owner; if the owner of the business is a partnership, private company, public company or trust—the partners in the partnership, directors of the company or trustees of the trust. However, a business is not an eligible business if— the business is a government entity; or the business’s only source of income is 1 or more of the following— earnings from rental properties; interest earned on investments; dividends; or the owner of the business is a sole trader who has received, or is eligible to receive, a COVID-19 disaster payment (Cwlth) in relation to a lock down event or border closure event. In this section— COVID-19 disaster payment (Cwlth) means a payment covered by the Financial Framework (Supplementary Powers) Regulations 1997 (Cwlth) , schedule 1AB , part 4 , item 492. sch 37 s 5 ins 2021 SL No. 109 s 4 amd 2021 SL No. 146 s 6 (sch.37-sec.5-ssec.1) 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 30 June 2021; and the business is registered for GST; and the business has its headquarters in Queensland and was trading in Queensland on 31 July 2021; and the business has at least 1 employee; and either— the annual turnover of the business for any of the relevant financial years 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 for a business that paid wages and superannuation to its employees during any relevant financial year totalling more than $10,000,000—the primary activity of the business is a tourism and hospitality activity; and none of the following entities is an insolvent under administration or is in administration, receivership or liquidation— the business; if the owner of the business is a sole trader—the owner; if the owner of the business is a partnership, private company, public company or trust—the partners in the partnership, directors of the company or trustees of the trust. (sch.37-sec.5-ssec.2) However, a business is not an eligible business if— the business is a government entity; or the business’s only source of income is 1 or more of the following— earnings from rental properties; interest earned on investments; dividends; or the owner of the business is a sole trader who has received, or is eligible to receive, a COVID-19 disaster payment (Cwlth) in relation to a lock down event or border closure event. (sch.37-sec.5-ssec.3) In this section— COVID-19 disaster payment (Cwlth) means a payment covered by the Financial Framework (Supplementary Powers) Regulations 1997 (Cwlth) , schedule 1AB , part 4 , item 492. - (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 30 June 2021; and - (i) holds an Australian Business Number for the business; and - (ii) has continuously held the same Australian Business Number for the business since 30 June 2021; and - (b) the business is registered for GST; and - (c) the business has its headquarters in Queensland and was trading in Queensland on 31 July 2021; and - (d) the business has at least 1 employee; and - (e) either— (i) the annual turnover of the business for any of the relevant financial years 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 2021–2022 financial year can reasonably be expected to be more than $75,000; and - (i) the annual turnover of the business for any of the relevant financial years 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 2021–2022 financial year can reasonably be expected to be more than $75,000; and - (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 2021–2022 financial year can reasonably be expected to be more than $75,000; and - (f) for a business that paid wages and superannuation to its employees during any relevant financial year totalling more than $10,000,000—the primary activity of the business is a tourism and hospitality activity; and - (g) none of the following entities is an insolvent under administration or is in administration, receivership or liquidation— (i) the business; (ii) if the owner of the business is a sole trader—the owner; (iii) if the owner of the business is a partnership, private company, public company or trust—the partners in the partnership, directors of the company or trustees of the trust. - (i) the business; - (ii) if the owner of the business is a sole trader—the owner; - (iii) if the owner of the business is a partnership, private company, public company or trust—the partners in the partnership, directors of the company or trustees of the trust. - (i) holds an Australian Business Number for the business; and - (ii) has continuously held the same Australian Business Number for the business since 30 June 2021; and - (i) the annual turnover of the business for any of the relevant financial years 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 2021–2022 financial year can reasonably be expected to be more than $75,000; and - (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 2021–2022 financial year can reasonably be expected to be more than $75,000; and - (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 2021–2022 financial year can reasonably be expected to be more than $75,000; and - (i) the business; - (ii) if the owner of the business is a sole trader—the owner; - (iii) if the owner of the business is a partnership, private company, public company or trust—the partners in the partnership, directors of the company or trustees of the trust. - (a) the business is a government entity; or - (b) the business’s only source of income is 1 or more of the following— (i) earnings from rental properties; (ii) interest earned on investments; (iii) dividends; or - (i) earnings from rental properties; - (ii) interest earned on investments; - (iii) dividends; or - (c) the owner of the business is a sole trader who has received, or is eligible to receive, a COVID-19 disaster payment (Cwlth) in relation to a lock down event or border closure event. - (i) earnings from rental properties; - (ii) interest earned on investments; - (iii) dividends; or