If two or more people go into business together, they may form a legal partnership. In order for it to be considered a partnership, it must also have:
- books of accounts;
- joint records; and
- taxation returns related to the partnership.
Partnerships and licensing
Unlike a company, a partnership is not recognised as a separate legal entity and can't be licensed. However, at least one of the partners must be licensed as an individual or company.
The licensed contractor is not able to enter into a partnership with a person who is:
- an excluded or permanently excluded individual;
- a convicted company officer;
- a banned individual;
- a disqualified individual;
- an excluded company; or
- a company for which one of the individuals listed above, is a director, secretary, influential person or nominee
The licensed person or company in a partnership arrangement is responsible for:
- the quality of all work carried out under the partnership
- ensuring that the building work meets the required codes and standards
- obtaining QBCC Insurance – where applicable.
Only the licensed contractor in the partnership agreement can enter into contracts and prepare quotations and tenders on behalf of the partnership. However, the names of all partners must be included in:
- contracts and associated documentation;
- advertisements; and
- site signage
Apply for a licence
Complete an Individual or company application form and include:
- a Statutory Declaration for Partnership; or
- a copy of a formal partnership agreement where a formal partnership agreement is in place.
For more information about partnerships and financial reports see Financial reporting for licensees.