QBCC cancels 170 builders in financial crackdown

The Queensland construction watchdog has cancelled the licences of 170 tradies and builders after they failed to submit their annual financial records. FULL LIST.

The Queensland construction watchdog has cancelled the licences of 170 tradies and builders after they failed to submit their annual financial records.

The Queensland Building and Construction Commission (QBCC) said the cancelled licensees had allowable turnover of up to $800,000 each year.

QBCC commissioner Anissa Levy said Queenslanders expected the watchdog to take action against those tradies who were not complying with the law.

“The majority of licensees have done the right thing and they are helping to improve the industry,” Ms Levy said. “Those who continue to flout the law are in the firing line for potential regulatory action.”

The 170 cancelled companies represented less than 1 per cent of licensees in those revenue classes. She said the annual financial requirements, introduced in 2018, helped the QBCC monitor the financial viability of licensees.

“The process provides us with a snapshot of their financial health and means we can step in sooner if there is a risk that the licensee is operating beyond their means,” Ms Levy said.

She said licensees only needed to provide the watchdog with a three-page form which captured “high level financial information” from the start of each financial year.

“The benefit to the industry is that subcontractors and suppliers can be more assured they are doing business with viable operators,” she said. “It’s also a huge benefit for home owners and consumers who are looking to engage tradespeople.

“If the QBCC can weed out the unviable operators it means consumers are more likely to hire someone who will be able to complete the contract and not go into insolvency.”

The building industry has been hit by a perfect storm of labour shortages and material price hikes in the past 12 months that has seen the demise of major builders including Probuild, Condev, Privium Homes, and Pivotal Homes.

Originally published as QBCC cancels 170 builders in financial crackdown