Construct Law News

As the year wraps up, our Director, Aleisha MacKenzie has taken the time to reflect not just on our firms’ achievements but also the challenges we have overcome as a team and the construction industry as a whole. We have been busier than ever this year supporting our client’s businesses […]

The Australian Accounting Standards Board (AASB), have announced new standards which change the way certain for-profit entities must conduct their reporting. The changes mean that for these affected entities, the previous minimum reporting requirements, being Special Purpose Financial Statements (SPFS), are replaced with General Purpose Financial Statements (GPFS) resulting in[…]

The Christmas and New Year’s holidays are fast approaching.   Unfortunately, contractual deadlines that fall on or around this time are often missed, which can result in a significant financial burden. Below we explain how construction industry legislation in Queensland deals with the Christmas and New Year’s holiday shutdown period (Christmas[…]

In Queensland, building contractors are required to comply with the Minimum Financial Requirements (MFRs), which are regulated by the QBCC. This week, Kirsty Stewart shares her top tips for contractors to ensure they comply with the MFRs and maintain a financially sustainable business: It is a condition of a building[…]

The impact of COVID-19 is continuing to be felt by the construction industry with shortages in materials and skilled labour causing major disruption. The residential construction sector has been particularly hard-hit by these shortages, with some builders estimating wait periods of up to four (4) months for materials and labour[…]

Under section 157 of the Building Industry Fairness (Security of Payment) Act 2017 (BIF Act) the QBCC Commissioner must review and report on the operation of Chapter 3 of the BIF Act.  These reporting obligations include investigations undertaken and penalty notices issued by the QBCC under: section 76 of the[…]