Cancellation of a further 96 Builder Licences - a timely reminder to ensure year end financials comply with QBCC Minimum Financial Requirements.

Continuing cost inflation, supply, and weather delays along with labour resourcing pressures have resulted in trading losses for many builders over FY22, eroding working capital and net tangible assets (NTA).

While builders are required to lodge annual accounts later this year the information is prepared as at 30 June 2022.

With only 3 weeks remaining in the financial year, builders should immediately test their compliance with the Queensland Building and Construction Commission’s (QBCC) Minimum Financial Reporting Requirements (MFR) to ensure there is enough time to rectify any deficiencies before year end.