Trust account rollout | Queensland Building and Construction Commission

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Delivered over five major phases, the trust account framework is progressively expanding over time to capture more contracts and contractors.  

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Trust account timeline infographic

 Eligibility for a trust account is based on a contract meeting a set of criteria (see When you need a trust account for full details). 

While some of the criteria apply across the entire rollout, other criteria (detailed below) change on specific dates as the framework rolls out. 

As of 1 January 2022

For project trust accounts

Group 1—contract price $1 million or more (excluding GST)

Queensland State Government  Hospital and Health Service (opt-in available for state authorities).

Group 2—contract price $10 million or more (excluding GST)
  • state authorities
  • local governments
  • private (entities and individuals).

For retention trust accounts

Contracting party

Head contractors and private sector principals where a project trust account is required for the head contract. (Commonwealth, Queensland government, state authority and local government contracting parties are exempt.
 

Remaining rollout phases

Click on the remain rollout phases for a brief overview.

For project trust accounts

Group 1—contract price $1 million or more (excluding GST)

Queensland State Government Hospital and Health Service (opt-in available for state authorities).

Group 2—contract price $3 million or more (excluding GST)
  • state authorities
  • local governments
  • private (entities and individuals).

For retention trust accounts

Contracting party

Head contractors and private sector principals where a project trust account is required for the head contract. (Commonwealth, Queensland government, state authority and local government contracting parties are exempt)

For project trust accounts

Full implementation

All contracting parties—contract price $1 million or more (excluding GST)
  • Queensland State Government
  • Hospital and Health Services 
  • state authorities                            
  • local governments
  • private (entities and individuals).

For retention trust accounts

Contracting party

Any contracting party (this includes principals, head contractors and any subcontractors down the contractual chain) where a project trust account is required for the head contract.(Commonwealth, Queensland government, state authority and local government contracting parties are exempt)


Last reviewed: 16 May 2022 Last published: 16 Mar 2022
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