sch.48-sec.4Meaning of eligible business

### sch.48-sec.4 Meaning of eligible business A business is an eligible business if— the business— holds an Australian Business Number for the business ; and has continuously held the same Australian Business Number since 1 January 2023; and the business is, and has been since 1 January 2023— registered for GST; and trading from premises in Queensland, primarily in a tourism industry; and on 1 January 2023, the business— had no employees; or employed fewer than 20 full-time employees; or if the business employed employees other than full-time employees—employed fewer than 20 equivalent full-time employees; and none of the following entities is an insolvent under administration or an externally administered entity— the business; if the owner of the business is a sole trader—the owner; if an owner of the business is a partnership—the partners in the partnership; if an owner of the business is a trust—the trustees of the trust; if an owner of the business is a company—the company or the directors of the company. However, a business is not an eligible business if the business is a body corporate under— the Body Corporate and Community Management Act 1997 ; or the Building Units and Group Titles Act 1980 . For subsection (1) (c) (iii) , 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— externally administered entity , in relation to a business, means the business is a Chapter 5 body corporate within the meaning of the Corporations Act , section 9 . insolvent under administration , in relation to a business, see the Corporations Act , section 9 . sch 48 s 4 ins 2023 SL No. 35 s 6 (sch.48-sec.4-ssec.1) A business is an eligible business if— the business— holds an Australian Business Number for the business ; and has continuously held the same Australian Business Number since 1 January 2023; and the business is, and has been since 1 January 2023— registered for GST; and trading from premises in Queensland, primarily in a tourism industry; and on 1 January 2023, the business— had no employees; or employed fewer than 20 full-time employees; or if the business employed employees other than full-time employees—employed fewer than 20 equivalent full-time employees; and none of the following entities is an insolvent under administration or an externally administered entity— the business; if the owner of the business is a sole trader—the owner; if an owner of the business is a partnership—the partners in the partnership; if an owner of the business is a trust—the trustees of the trust; if an owner of the business is a company—the company or the directors of the company. (sch.48-sec.4-ssec.2) However, a business is not an eligible business if the business is a body corporate under— the Body Corporate and Community Management Act 1997 ; or the Building Units and Group Titles Act 1980 . (sch.48-sec.4-ssec.3) For subsection (1) (c) (iii) , 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. (sch.48-sec.4-ssec.4) In this section— externally administered entity , in relation to a business, means the business is a Chapter 5 body corporate within the meaning of the Corporations Act , section 9 . insolvent under administration , in relation to a business, see the Corporations Act , section 9 . - (a) the business— (i) holds an Australian Business Number for the business ; and (ii) has continuously held the same Australian Business Number since 1 January 2023; and - (i) holds an Australian Business Number for the business ; and - (ii) has continuously held the same Australian Business Number since 1 January 2023; and - (b) the business is, and has been since 1 January 2023— (i) registered for GST; and (ii) trading from premises in Queensland, primarily in a tourism industry; and - (i) registered for GST; and - (ii) trading from premises in Queensland, primarily in a tourism industry; and - (c) on 1 January 2023, the business— (i) had no employees; or (ii) employed fewer than 20 full-time employees; or (iii) if the business employed employees other than full-time employees—employed fewer than 20 equivalent full-time employees; and - (i) had no employees; or - (ii) employed fewer than 20 full-time employees; or - (iii) if the business employed employees other than full-time employees—employed fewer than 20 equivalent full-time employees; and - (d) none of the following entities is an insolvent under administration or an externally administered entity— (i) the business; (ii) if the owner of the business is a sole trader—the owner; (iii) if an owner of the business is a partnership—the partners in the partnership; (iv) if an owner of the business is a trust—the trustees of the trust; (v) if an owner of the business is a company—the company or the directors of the company. - (i) the business; - (ii) if the owner of the business is a sole trader—the owner; - (iii) if an owner of the business is a partnership—the partners in the partnership; - (iv) if an owner of the business is a trust—the trustees of the trust; - (v) if an owner of the business is a company—the company or the directors of the company. - (i) holds an Australian Business Number for the business ; and - (ii) has continuously held the same Australian Business Number since 1 January 2023; and - (i) registered for GST; and - (ii) trading from premises in Queensland, primarily in a tourism industry; and - (i) had no employees; or - (ii) employed fewer than 20 full-time employees; or - (iii) if the business employed employees other than full-time employees—employed fewer than 20 equivalent full-time employees; and - (i) the business; - (ii) if the owner of the business is a sole trader—the owner; - (iii) if an owner of the business is a partnership—the partners in the partnership; - (iv) if an owner of the business is a trust—the trustees of the trust; - (v) if an owner of the business is a company—the company or the directors of the company. - (a) the Body Corporate and Community Management Act 1997 ; or - (b) the Building Units and Group Titles Act 1980 .