MFR and annual reporting
Annual financial reporting is a once-a-year submission to the QBCC to demonstrate you continue to meet your minimum financial requirements (MFR).
To maintain a QBCC contractor-type licence (particularly in a builder class) you are required to show that you continue to meet the minimum financial requirements.
This is done once a year by submitting annual financial reporting to demonstrate that you:
- haven’t gone over your maximum revenue amount by more than 10% (without informing us)
- maintain a ratio of current assets to current liabilities of at least 1:1
- can continue paying your subcontractors and suppliers.
NOTE: If you are retired, not currently trading in the building industry, an employee or working for wages, you may wish to surrender your contractor-type licence and reapply as a nominee supervisor.
Learn more about annual reporting obligations of contractor licencees.