Following industry consultation, the Queensland Building and Construction Commission (QBCC) has proposed some important changes to the Minimum Financial Requirements (MFR) Policy. One of the most significant changes is the return to annual reporting for licence holders.
It is anticipated that these changes will come into effect in two parts – the first commencing 1 January 2019 with the balance of the changes to commence 1 April 2019. The below QBCC fact sheet provides details.
It is important to note that in addition to reporting, there are other proposed changes that will affect the building and construction industry. Some of these changes are due to commence later this month.
You can find more information on the QBCC website here
Your Bentleys team are liaising with the QBCC and relevant professional bodies to gather more information and understand how these changes will impact you and your business. We will be in touch with clients that this may affect as information comes to hand. If you have any concerns or questions in the interim – please contact us today.