QBCC Annual Financial Reporting and Licence Registrations
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Keeping your QBCC financial reporting in order
Keeping your QBCC financial reporting in order
If you’re in the construction industry, then you know you’ve got to follow regulations from not only the ATO and ASIC but also the QBCC.
And while it may seem daunting, don’t worry, Altias can assist you. Our accounting firm specialises in QBCC annual reporting and QBCC licence requirements, so you can focus on building your business.
With us in your corner, you can rest easy knowing that you’re fulfilling all the crucial obligations and keeping your business financially secure.
What is QBCC annual reporting?
What is QBCC annual reporting?
The QBCC is the regulatory body that issues licences and regulates the building and construction industry in Queensland.
As part of the licensing process, licensed contractors need to meet specific financial requirements and submit annual financial reports to the QBCC. These requirements ensure that the industry operates in a financially responsible and sustainable manner, benefiting both consumers and contractors.
To comply with these requirements, licensed contractors must maintain accurate and up-to-date financial records that meet the reporting standards. If accounting isn’t your forte, don’t worry, many contractors choose to work with a qualified accountant to help prepare their reports for submission to the QBCC.
At Altias, we keep your financial records in order. Have our team submit your annual reports to the QBCC so you can stay licensed and keep your business running smoothly.
What we can do for you
What we can do for you
Whether you’re applying for a new licence, upgrading your current licence, or just need help with annual compliance checks, we’re here to protect you and your business.
We understand that minimum QBCC financial requirements are attached to your licence. Providing ongoing financial advice and support, we’re here to make sure that you meet those obligations.
Staying up to date with the latest regulations, we take care of the lot, so you don’t have to worry about keeping track of changes.
Helping you to stay compliant and avoid any penalties or fines from the QBCC, we’re here to support you every step of the way.
Stay up to date and dompliant
Stay up to date and compliant
Here at Altias Accounting, we know how critical it is to stay on top of QBCC reporting regulations, which is why we work hard to stay informed and in compliance with any new requirements as soon as they’re introduced.
Our team of experts regularly attend industry events and training sessions so we can keep up with any changes that may affect you and your business.
We also have access to a variety of resources and tools that make staying current with regulatory updates easy.
When you choose Altias Accounting for your QBCC reporting needs, you can trust that your business ticks all the boxes.
Taking the hassle out of compliance, we want to make sure you can focus on growing your business and achieving your goals.
QBCC planning services
QBCC planning services
At our firm, we don’t stop at offering basic compliance services. Our team also provides QBCC planning services to guide you through the year-end wrap-up, ensuring you keep your licence in check.
Assisting you with mapping out future steps and making well-informed business decisions, we pave the way to guaranteed success.
QBCC FAQs
If you work in the building industry in Queensland, chances are you need a licence. However, there are some instances where you do not need to hold a licence. Please contact our office or the QBCC if you are unsure.
For license categories SC1 & SC2 you must lodge your 30 June financial information no later than 31 March each year. If you are in categories 1 to 7 you must lodge no later than 31 December.
The MFR regulations details what financial requirements must be met to ensure a licensee has a strong and financially sustainable business with an appropriate level of working capital. The QBCC sets a contractor’s allowable annual turnover—maximum revenue; as determined by their working capital—net tangible assets; in relation to their debts—current ratio.
Yes, in most cases you will require a license however it will be depend on the scope of the services being offered and the range of responsibilities associated with that activity.
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