Work stops for almost 1,000 contractors for failure to provide finances

20 August 2021

Almost 1,000 Queensland contractors have had conditions applied to their licences that prevent them from providing tenders or quotes, or doing new work until they lodge their financial information with the State’s building industry watchdog.

The latest action by the Queensland Building and Construction Commission (QBCC) against 205 licensees has taken the number of licensees hit with the conditions since June to 993.

All groups are either SC1 or SC2 category licensees, which have an annual allowable turnover of up to $200,00 and $800,000, respectively.

Meanwhile, the QBCC has now cancelled the two remaining Category 1-3 licences which failed to provide their annual financial reporting. Category 1-3 licensees have an annualallowable turnover from $800,001 to $30 million.

QBCC Commissioner, Brett Bassett, said this was the second year of the annual financial reporting process, and licensees had no excuse for not submitting their financial reports.

“It’s pleasing that the majority of licensees have complied but those who haven’t are now subject to action from the QBCC, starting with conditions being applied and potentially ending up with the cancellation of their licence.

“Mandatory annual financial reporting helps reassure home owners that licensees have sufficient financial resources to complete their projects, and gives subcontractors and suppliers confidence that they are doing business with viable operators.”

The 205 had until COB today to submit their financial reporting to the QBCC or face potential licence suspension or cancellation. Since the conditions were applied, 53 licensees have submitted their financial reporting information, taking the number to 152.

They are in addition to 575 licensees hit with the same conditions in July and 213 who had the conditions applied in June.

 

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