Queensland’s building industry watchdog has cancelled 96 building licences to reassure home owners and industry participants that they are interacting with financially sustainable licensees.
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 said financial reporting requirements helped ensure licensees were financially sustainable, could complete the projects they took on, and could 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 had lodged the required annual financial information.
Ms Levy encouraged any licensee with concerns or questions about their financial reporting to contact the QBCC to discuss potential options available to help them.
QBCC licensees have been required to comply with annual financial reporting requirements since 1 January 2019, under the Minimum Financial Requirements for holding a licence.
Licensees in these categories have annual allowable maximum revenues ranging from $800,000 to $3 million (Category 1) to more than $240 million (Category 7).
Of the 96 cancelled licences, two were from Categories 5 to 7 and one was in Category 4.
