Building industry trust accounts are here

Trust accounts will be required for certain private sector construction projects from 1 January 2022

The trust account requirements are expanding to eligible private sector, local government or state authority construction projects valued at $10 million or more. 

Trust accounts already apply to state Government and Hospital and Health Service projects valued at $1 million or more.

These changes affect those with plumbing or drainage licenses as well as builders and subcontractors. 

Here is what you need to know about the key changes coming soon:

New Building Regulation 2021  

On 1 September 2021, the Building Regulation 2006 was remade to the Building Regulation 2021 (BR 2021).   

What are the key changes?  

The new BR 2021 does not include any significant policy changes and continues to support the objectives of the Building Act 1975 (BA) to regulate building certifiers and ensure buildings and structures are compliant with the relevant building assessment provisions.  

Is your advertising up to scratch?

Is your advertising up to scratch?

If you hold a licence with the Queensland Building and Construction Commission (QBCC) you must include your licence number in all of your advertising, including on social media. Penalties may apply under the QBCC Act for failing to do so.

Worse still, if you’re unlicensed and claim to offer building or plumbing work which requires a licence, you could face tough penalties.

Licensee survey results summary

In February 2020, the Service Trades Council published a survey to gather important industry information from licensees. More than 550 responses were received, providing valuable feedback on important topics. Licensees also expressed how the Council could better meet their needs.

The Council will be working with the QBCC to ensure that the requested topics are covered in upcoming newsletters and social media. Some of the topics that we will be bringing you in the next 12 months include:

You can help shape the Building Industry Fairness reforms

Man raising his hand to as question at a seminar

The Queensland Government is currently implementing reforms to make the building and construction industry fairer by introducing changes to project bank accounts, progress payments, subcontractors’ charges, adjudication and Minimum Financial Requirements (MFR). 

The government is also asking for industry feedback in order to evaluate and review the reforms. The Building Industry Fairness Reforms Implementation and Evaluation Panel has been established for this purpose.


Commencement of new security of payment laws

It’s now easier to get paid for construction work or related goods and services in Queensland. From 17 December 2018 elements of the Building Industry Fairness (Security of Payment) Act 2017 (BIF Act) and amendments to the QBCC Act commence. 

What does this mean for you?

The BIF Act introduces changes to progress payments, adjudication and subcontractors charges. There are new requirements for payment claims (your regular invoices, progress payments or requests for payment) and payment schedules. This means that: