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Business Skills Visas: Court Interprets Meaning of Main Business

the visa applicant “nominate” one or more of the businesses that are operating under the umbrella of the legal entity, and rely on the assets of those businesses in order to meet the asset test

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Business Skills Visas: Court Interprets Meaning of Main Business

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  1. Business Skills Visas: Court Interprets Meaning of Main Business

  2. The criteria of such visas, specifically subclause 892.212(c)(ii) requires that the applicant demonstrate that the assets owned by the applicant and/or the applicant's spouse or de factor partner in the “main business” must have a net value of at least $75,000 AUD throughout the 12 month period ending immediately before the application is made. So, suppose you have a complex situation where several very diverse business activities are all owned by a single legal entity and the businesses all share the same Australian Business Number.Also suppose that the reporting for the several businesses is all done on a consolidated Business Activity Statement for the legal entity that owns the businesses, and likewise that the profit and loss statements and the assets and liabilities for the separate businesses are all reported on a consolidated basis for the umbrella legal entity that owns them. In that circumstance, can the umbrella legal entity that owns the separate businesses be relied on as the “main business” for the purpose of satisfying the “asset test” of subclause 892.212(c)(ii)? Or must the visa applicant “nominate” one or more of the businesses that are operating under the umbrella of the legal entity, and rely on the assets of those businesses in order to meet the asset test?

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