The Chief Executive reviews the financial viability of licence applicants to ensure:
- the business is able to meet operating cost and expenses or for new businesses, projected expenses
- workers can be paid promptly
- the business has capacity to pay other obligations and entitlements.
On application each applicant will have to declare that they are financially viable. The applicant will also need to advise if:
- an applicant has operated another labour hire business within the last five years
- a business is not yet trading or is considered to be an established business
- a close associate of the applicant has been made insolvent under the Corporations Act 2001 (Cth) (if the applicant is an individual)
- a related body corporate has been subject of an appointment of an administrator, liquidator, receiver or receiver manager under the Corporations Act 2001 (Cth) (if the applicant is a corporation).
Applicants will need to upload the documents that demonstrate that they are financially viable.
Licensees must retain the documents for seven years after the licensee ceases to have a licence or as required under other legislation, whichever is later.
Documents
Businesses currently operating (Established)
Business Plan
Business bank account statement that covers the 3 months prior to your application
Employment contacts/Piecework agreements
Financial statements for the most recent financial year (or YTD if operating less than 12 months)
- Profit & loss
- Cash flow
- Balance sheet
- Company tax return
Workcover QLD policy
Public liability insurance policy
Integrated Client Account summary (from ATO) – most recent quarter
Business Activity Statement (from ATO) – most recent quarter
Time & Wage records
- Most recent payroll summary report for the most recent quarter
- Timesheets for 5 workers for the most recent quarter
- Payslips that match the above required timesheets
- Evidence of payment of wages to match the timesheets and payslips required
Evidence of payment of superannuation contributions for most recent quarter
Businesses not currently operating (New)
Business Plan
Business bank account statement to show funds to cover start up costs.
Employment contract/Piecework agreements
(Copies of any sample/template employment and piecework agreements)
Statement of financial position
- Projected profit & loss
- Cash flow statement
Workcover QLD policy
(a nominal policy is sufficient for a new business)
Public liability insurance policy
(a quote for public liability insurance is sufficient for a new business)
In addition to these requirements, a new businesses licence may be subject to a condition. For example, a mandatory investigation or inspection of the business after a stated period of time.
