April 18, 2020

Please reload

Recent Posts

JobKeeper Subsidy Extension - What you need to know!

July 30, 2020

1/2
Please reload

Featured Posts

For the Tradies – Your QBCC Obligations

November 1, 2018

 

If you work in the building industry in Queensland, chances are you need a Queensland Building and Construction Commission (QBCC) licence. The QBCC is a statutory authority established to regulate the Queensland building industry. It is QBCC’s mission to improve standards, equity and confidence in the building industry.

 

Any contractors performing building work valued over $3,300 must hold a QBCC licence. A QBCC licence is like a driver’s licence in that it shows that the licensed person has met QBCC’s technical, managerial and financial requirements.

 

When you need a licence

 

In Queensland, individuals and companies must hold a QBCC licence to carry out:

  • any building work valued over $3,300

  • building work valued over $1,100 where it involves Hydraulic Services Design

  • building work of any value where it involves:

    • Drainage

    • Plumbing and Drainage

    • Gas Fitting

    • Termite Management – Chemical

    • Fire Protection

    • Completed Residential Building Inspection

    • Building Design – Low Rise, Medium Rise and Open

    • Site Classification

 

Types of licence classes

 

The scope of work for each QBCC licence class outlines the range of building work for that class. The building work you do must be covered by your licence. For some work, you may need more than one licence class.

 

The Minimum Financial Requirements


The Minimum Financial Requirements (MFR) set out the level of asset backing you will need for your specific QBCC licence class. To work out the minimum assets you need to hold for your current turnover level click here to use the QBCC’s MFR calculator.

 

 

Your Accountant Can Help

 

To ensure the MFR’s are met you will need to regularly monitor your financial performance. Depending on the licence category you are in, a quarterly review of your financial reports is recommended to ensure you remain compliant.

 

A report from your Accountant must be lodged with the QBCC where you move to a higher turnover category under your licence.

 

For further information about QBCC Licence’s please click here.

 

Share on Facebook
Share on Twitter
Please reload

Please reload

Archive

Copyright © 2019 Transcend Accounting, All rights reserved.

Liability limited by a scheme approved under Professional Standards Legislation.