Client alert

Three weeks remaining for Queensland builders to comply with QBCC's Minimum Financial Reporting Requirements

By: Sian Sinclair, Matt Bell

10 Jun 2022 1 min read

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

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.

QBCC Minimum Financial Requirements

QBCC Minimum Financial Requirements

Download our brochure on what to look out for, the consequences of inaction and lodgement requirements.
Download PDF

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Authors

  • Sian Sinclair

    Sian’s expertise draws on over 25 years’ experience in taxation, accounting and general business consulting. View Profile

  • Matt Bell

    As a Chartered Accountant and Certified Information Systems Auditor, Matt has developed an understanding of the accounting and information systems needs of his clients. View Profile

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