Categories 1, 2 and 3

Annual turnover of more than $800,000 but not more than $30,000,000 - Categories 1, 2 and 3

You need to lodge your 2019-2020 financial information by 31 December 2020. 

It is easy to lodge online using myQBCC. We have also prepared the ‘Annual financial reporting user guide for myQBCC’ specifically for Category 1, 2 and 3 licensees.

How to lodge your annual financial information

You can lodge online usingmyQBCC, which steps you through the process.

We have prepared this brief `How to lodge’ video specifically for Category 1-3 licensees. 

The simple steps are:

  • Have your most recent financial information close at hand. These documents you maintain as part of your usual business practices
  • Log into myQBCC
  • Click my forms
  • Select the Financial Categories 1-3 form
  • Confirm your details are up-to-date
  • Enter in your revenue & expenses, assets & liabilities and statement of cashflow details
  • Upload a copy of the following supporting documentation
    • Profit and loss statement
    • Balance sheet
    • Aged debtors and creditors report
    • Statement of cashflows
    • Trust financial statements (if applicable)
    • Partnership financial statements (if applicable)
  • Agree to the declaration and click submit
  • Congratulations you are all done!

Adding a representative on myQBCC

Please note: !f you would like a third party to submit this information on your behalf, you will need to ensure they have been added as a representative and assigned the appropriate permissions in myQBCC.

See myQBCC - adding other users to your account for more information.

Here is a quick overview of the online steps

Remember, these important rules still apply:

  • Don’t go over your maximum revenue amount by more than 10% without informing the QBCC
  • Keep your ratio of current assets to current liabilities to at least 1:1
  • Ensure you continue paying your subcontractors and suppliers.

What is my ‘most recent reporting year’?

You are required to provide financial information for your most recent reporting year. For most licensees, your most recent reporting year end would be 30 June, in line with the financial year.

Do you have both an individual and company contractor licence

You need to submit annual financial information for both the individual contractor and the company contractor licence. This can be done online via the myqbcc portal. This is the case even if your individual turnover is $nil.