QBCC suspended licenses: Central Queensland breakdown

See the list of licensees that have been suspended in the Rockhampton, Gladstone, Central Highlands, Mackay and Whitsundays regions.

Building industry watchdog the Queensland Building and Construction Commission has handed out hundreds of show-cause notices to companies after they have failed to lodge mandatory annual financial reports.

The QBCC revealed this week there are 296 licensees at risk of losing their licences, including a number in Central and North Queensland.

The companies have been given a deadline of October 5 to lodge the reports, or they face a licence cancellation.

To maintain a QBCC contractor-type licence, licensees are required to submit an annual financial report.

The annual report is to demonstrate the licensee is continuing to meet minimal financial requirements and hasn’t gone over the maximum revenue amount by more than 10 per cent, without informing QBCC, that they can maintain a ratio of current assets to liabilities of at least 1:1 and can continue to pay subcontractors and suppliers.

QBCC licensees in category SC1 have an annual allowable turnover of up to $200,000 while category SC2 have a maximum revenue of up to $800,000.

If a licensee has retired or is no longer trading in the building industry, they can surrender their contractor-type license and reapply as a nominee supervisor.

“It’s unclear why these licensees have failed to provide the reports – all they must do is send us a three-page form which captures high level financial information from 30 June 2021,” QBCC Commissioner Anissa Levy said.

“During the show-cause period, the companies are given the opportunity to provide reasons why they haven’t provided their financials, as required under Queensland law, and this will be the last chance to lodge the documents.

“We take this action because SC companies can under-report their annual turnover and escape the scrutiny that they warrant in order for us to properly assess their financial viability.

“Licensees who do not submit their reports to the QBCC face potential regulatory action, such as no-new-work conditions, license suspensions, and license cancellations.”

The mandatory reporting regime allows the watchdog to detect more easily when a licensed company may be in trouble financially.

“We’ll do whatever we can to protect the industry from the devastating effects of insolvencies, because those impacts flow right through the building supply chain,” Ms Levy said.

Here is a list of QBCC licenses registered to a Central Queensland address that have been suspended.

Originally published as QBCC suspended licenses: Central Queensland breakdown