Trust account resources and support

 

To support industry to understand the new trust account framework and their obligations, we’ve developed a comprehensive range of tools and materials.

Trust account tool

Use our trust account tool to find out if your project needs a project trust account. 

Trust account register

Trust account register (myQBCC).

Guides

Detailed companion guides to support the trust tutorials (in development) and provide practical tools such as checklists:  

Checklists

Webinars

Webinar - Trust account overview

  • an overview of the trust account framework
  • which contracts require a trust account and working out if your projects are eligible
  • what to do after you’ve entered a contract requiring a trust 
  • the two types of trust accounts – when and how to use them
  • who you need to notify in the contract chain, by when and how.

Download presentation


Webinar - Managing a trust account

  • how to manage your trust accounts
  • getting paid and making payments from trust accounts
  • record keeping and other accounting requirements
  • types of trust account audits and how to prepare
  • managing your trust accounts through the myQBCC portal.

Registration for this webinar has closed. Webinar presentation will be available for download soon.

 

Follow up Q&A sessions

These small group Q&A sessions are restricted in numbers so our experts will be able to spend time with you going through your questions and specific business situation in detail.

Next session:

Wednesday 8 December 
11am - 12pm
Register

Glossary of terms

Frequently used terms in trust account legislation and resoures.

Forms

Trust account notifications 

Trustee notifications to be sent to the QBCC

Trustee notifications to the QBCC must be submitted in one of the ways outlined below. There is a choice of online through myQBCC or manual forms.

If using manual forms, return your fully completed form and ALL required documents by:

Post: GPO Box 5099, Brisbane QLD 4001
In person: QBCC Service Centres are listed on our website.

Trust account opened (project or retention trust account)

Trust account changed or closed (project or retention trust account)

Trustee has engaged a related entity subcontractor  

Insufficient amounts available to make payment

Trust account review will not be completed 

Trustee notifications to be given to other parties

The trustee is required to provide notification to various parties involved in the trust as outlined in the Trustee guide: project trusts and Trustee guide – retention trustsWhen required, a trustee can provide this information in whichever way they choose, however it must:

  • be in writing 
  • include specified information 
  • be given within the specified timeframes.

Notice of project trust account to be used for the project 

Notice of retention trust account to be used for the contract 

Trust account changed or closed (project or retention trust account)

Other notices

A current or former beneficiary of a trust account may request copies of certain records from a trustee, using:

Payment advice notices 


For more information

See our trust account resources above or contact us for more information.