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

Minimum Financial Requirements discussion paper

Queenslanders working in the building and construction industry are encouraged to have their say on proposed new financial reporting laws under the Queensland Building and Construction Commission Act that aim to:

  • improve the current Minimum Financial Requirements (MFR) for licensing
  • reduce the risk of insolvencies.

We want your feedback on these proposals, including any social, economic and financial impacts.

What we are proposing

The discussion paper (PDF, 664KB) contains 18 potential reforms for you to consider 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.

These improvements to the MFR are intended to benefit industry and the broader community by:

How to have your say

Review the discussion paper (PDF, 596KB) and give us your feedback.

You can either:

Send your response form or written submission by email or post.

Email

Email your feedback to MFR@hpw.qld.gov.au.

Mail

‘Feedback on the ‘Proposed improvements to Minimum Financial Requirements for licensing discussion paper’
Department of Housing and Public Works
GPO Box 2457
Brisbane QLD 4001

Closing date

Submissions close 5pm, Tuesday 9 October 2018.

Submissions will not be accepted after this date.

Contact us

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

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Last updated 18 September 2018    Creative Commons Attribution 4.0 International (CC BY 4.0)


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