Are you going to meet the QBCC deadline?
Your financial Information needs to be lodged with the QBCC by 31st December 2019. Before you get caught up in the silly season, contact us on 07 5437 9900 as we can assist you with preparing the necessary documentation.
This 31st lodgement Deadline affects self- certifying and Categories 1, 2 & 3!!!!
We have a number of clients affected by these recent changes and we can help put your mind at ease assisting you by preparing the required financial information.
Not sure what the recent changes are?
Queensland Building and Construction Commission has introduced changes to the Minimum Financial Requirements (MFR).
From 1 January 2019, all builders are now required to lodge and meet the new financial reporting obligations with QBBC when you renew your licences throughout the 2019 year.
The Queensland Building and Construction Commission (QBCC) have proposed and implemented several changes aiming to;
- Strengthen reporting requirements;
- Provide clarity about what can be included with calculating a licensee’s revenue and assets;
- Develop data quality and availability for QBCC; and
- Minimize the financial and social impacts of insolvency.
All QCBB licensees’ financial information must at all times satisfy the Minimum Financial Requirements. Variations in the licensees’ turnover and assets must be approved in accordance with the Minimum Financial Requirements.
Incorrect or misleading information may lead to a review and possible suspension and or cancellation of the licence, prosecution and up to two years imprisonment under the Queensland Building and Construction Commission Act 1991 and the imposition of a penalty under Section 193 of the Queensland Criminal Code.
If you are concerned that you are not meeting the new MFR laws or if you expect that you are going to exceed your Allowable Annual turnover send us an email at firstname.lastname@example.org or call one of our qualified accountants today on 07 5437 9900.
Don’t delay calling us, otherwise an audit or license suspensions could be your next building project.