Hello and thank you for entrusting me to answer your question.
You were absolutely correct to decline sending any money so far. There are no prize winnings and this entire scenario has been fabricated for the sole purpose of inducing you to send your up front fee.
This is known as an advance fee lottery scam. They are incredibly common, though yours has the interesting twist being connected to a travel agency and them trying to tell you that you don't qualify for the award. That is a no more than a reverse psychology ploy.
These scammers are trying to distract you from the implausible reality that a small, unknown travel agency is for some unknown reason raffling off almost a quarter million dollars. It doesn't make sense when you think about it, and that's because there are no prize winnings and these people are simply trying to induce you to send an advanced payment.
See this warning from the Australian government regarding lottery scams: http://www.scamwatch.gov.au/content/index.phtml/tag/LotterySweepstakeScams
See also this warning from the United States Federal Trade Commission: http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt022.shtm
The botXXXXX XXXXXne is that Best Grace Travel has almost no web presence aside from pages that they created themselves. There is no reason why a company so small would by raffling off hundreds of thousands of dollars to strangers. There is virtually no publicity surrounding the raffles, so they aren't even gaining any advertising value.
On a side note, the website given for the Financial Markets Authority apparently now links to an electronics site and is defunct.
This is clearly a scam. If you pay the advanced fee, you will never see that money again let alone the prize money you have been promised.
You can report this matter to the Australian Federal Police here: http://www.afp.gov.au/contact/report-a-crime.aspx
You can also make a report to the Australian Competition and Consumer Commission here: http://www.accc.gov.au/content/index.phtml/itemId/3634
I sincerely XXXXX XXXXX this information helps you and I wish you the best.
My absolute greatest concern
is that you are satisfied with the answer I provide, so please do not hesitate to contact me with follow-up questions. Also, please bear in mind that none of the above constitutes legal advice nor is any attorney client relationship created between us.