Definitions
- A$
The Australian Dollar equivalent value on the basis of the buying rate:
- In the local currency for Australian dollars on the last day of the fiscal year in which the business reported
- Published by any bank holding an Australian banking License
- Published on an approved currency conversion website.
- Appropriate Regional Authority
A Department or authority of a state or territory that is specified by a departmental Gazette Notice in relation to the grant of a Business Skills visa.
- Dependent child
The natural or adopted child, or step-child, of a person (other than a child who has a spouse or is engaged to be married), being a child who:
- has not turned 18; or
- has turned 18 and is dependent on that person; or
- is incapacitated for work due to the total or partial loss of the child's bodily or mental functions.
- Eligible Family Members
Eligible family members are:
- your spouse
- your or your spouse's dependent child
- other dependent relatives living with you
- Fiscal year
In relation to a business or investment, 'fiscal year' means:
- If there is applicable to the business or investment by law an accounting period of 12 months - that period
or - in any other case - a period of 12 months approved by the Minister in writing for that business or investment.
- If there is applicable to the business or investment by law an accounting period of 12 months - that period
- Main Business
-
A Business is a 'main business' in relation to the applicant if:
- the applicant has, or has had, an ownership in the business
and - the applicant maintains, or has maintained, direct and continuous involvement in management of the business from day to day and in making decisions affecting the overall direction and performance of the business
and - the value of the applicant's ownership interest, or the total value of the ownership interests of the applicant and the applicant's spouse, in the business is or was at least 10% of the total value of the business
and - the business is a qualifying business
- the applicant has, or has had, an ownership in the business
- Net assets
The 'net assets' of a business is amount attributable to the owners or shareholders of the business after deducting financial claims upon the business by third parties from total assets ( Net assets = total assets - liabilities)
- Ownership interest
In relation to a business, means an interest in the business as:
- a shareholder in a company that carries on the business; or
- a partner in a partnership that carries on the business; or
- the sole proprietor of the business including such an interest held indirectly through one or more interposed companies, partnerships or trusts.
- Provisional
A provisional visa under the Business Skills Category is a temporary 4 year visa.
- Qualifying business
Is an enterprise that:
- is operated for the purpose of making profit through the provision of goods, services or goods and services (other than the provision of rental property) to the public
- is not operated primarily or substantially for the purpose of speculative or passive investment.
- Spouse
The person you live with as husband and wife, either legally married or in a de facto (common law) relationship.
- Vocational English
Means you have a reasonable command of the English language. You must be able to read, write, understand and speak English well enough to communicate effectively for most purposes and in your own field of business.