The Queensland Building and Construction Commission (QBCC) has cancelled the licences for failing to lodge mandatory annual financial reporting that was due on 31 December, 2021.
QBCC Commissioner, Anissa Levy, says financial reporting requirements help ensure licensees are financially sustainable, can complete the projects they take on, and can pay their employees and suppliers.
“It is only fair and right that people are paid what they are owed for their labour and materials, and our reporting requirements help to ensure that this happens,” Ms Levy says.
The QBCC cancelled the licences after issuing multiple reminders over a prolonged period to encourage the licensees to comply with their financial reporting requirements.
As at 20 May 2022, almost 99 per cent of the 10,709 licensees Category 1-7 licensees have lodged the required annual financial information.
Ms Levy encourages any licensee with concerns or questions about their financial reporting to contact the QBCC to discuss potential options available to help them.