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Skip Navigation LinksDepartment of Housing and Public Works > Construction > Building and plumbing > Building > Security of payment > Minimum Financial Requirements for licensing

Minimum Financial Requirements for licensing

A key part of the Queensland Government’s security of payment reforms is its commitment to create new laws that strengthen the Minimum Financial Requirements (MFR) for licensing.

Improving the MFR will benefit industry and the broader community by:

Discussion paper

From 12 September to 9 October 2018, the Queensland Government released a discussion paper (PDF, 664KB) to seek feedback from industry and the community on proposed new financial reporting laws.

The discussion paper included 18 potential reforms in the following key areas:

  • introducing risk-based, targeted annual reporting requirements
  • fostering improved accountancy practices that meet the objectives of the MFR
  • ensuring forms of assurance can provide financial security
  • ensuring funds from related entity loans can be readily accessed
  • clarifying definitions and requirements for the calculation of assets.

Next steps

The Queensland Government is considering the results of consultation on the discussion paper.

Contact us

If you have any questions, please email MFR@hpw.qld.gov.au.



Last updated 15 October 2018    Creative Commons Attribution 4.0 International (CC BY 4.0)


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