Financial reporting requirements for Self Certifying 1 and 2 – Maximum Revenue up to $800,000

Applying for a licence

Licensees that require a maximum revenue (MR) in the financial year up to $800,000, can submit a declaration with the application that the revenue will not exceed:

  • $200,000 maximum revenue where you have net tangible assets of $12,000 - complete the SC1 Declaration on the licence application form (this option is not available to builders); or
  • $800,000 maximum revenue where you have net tangible assets of $46,000 - complete the SC2 Declaration on the licence application form; or 
  • If notified by the Commission, licensees may be required to submit an MFR Report demonstrating compliance with the requirements of the MFR Regulation 2018. 

The declarations are available within the licence application and are not be required to be attached separately.  

Changing your Maximum Revenue

To increase or decrease your maximum revenue under $800,000, complete and submit either: 

  • SC1 Declaration (PDF) if your maximum revenue is up to $200,000 and you have net tangible assets of $12,000 (this option is not available to builders); or 
  • SC2 Declaration (PDF) if your maximum revenue is up to $800,000 and you have net tangible assets of $46,000; or 
  • If notified by the Commission, licensees may be required to submit further documents demonstrating compliance with the requirements of the MFR Regulation 2018. 

Declarations submitted with alterations, other than the completion of the spaces provided, may be refused by the Commission; i.e. incomplete forms, or forms with information supplied in addition to or in place of what is requested.

We will notify you in writing once your Maximum Revenue is assessed.