QBCC reporting and MFR reports from Gold Coast accountants.

Annual QBCC reporting, minimum financial requirements (MFR) reports and licence category increases for Queensland building and construction businesses — from our Southport office, in the middle of one of Australia's busiest construction regions.

Discuss your QBCC reporting

Annual reporting

Check whether reporting is required for your licence holder and category, then prepare the relevant financial information.

MFR reports

Prepared and signed by a qualifying accountant for new licences, revenue increases and QBCC requests.

Licence increases

Planning the net tangible assets position before you need the higher category — not scrambling after.

Problem solving

Late reports, NTA shortfalls, deeds of covenant and restructures — review the financial position and the options available under the rules.

Start with your licence and current accounts

Bring your licence number, approved maximum revenue, entity details, latest financial statements and any QBCC correspondence. Current management accounts, bank and loan balances, and aged receivables and payables help us understand the position before deciding what work is needed.

Annual reporting or an MFR report?

They serve different purposes. An annual return is not automatically an MFR report. An MFR report must be prepared by a qualifying accountant and is used for particular applications, revenue changes or a QBCC request. We establish the requirement first, then identify missing records and agree the preparation scope.

Growing beyond your approved maximum revenue?

Your approved maximum revenue is a specific amount; the financial category is a range. Changing a financial category is also different from adding a licence class. Start with the amount on your QBCC record and the revenue you expect, then establish the evidence required for an increase.

A checklist for a growing builder

  1. Confirm the licence holder. Check the entity, approved maximum revenue and any current notice.
  2. Update the accounts. Identify missing transactions, reconciliations and supporting records.
  3. Compare the financial position. Review revenue, net tangible assets and the current ratio against the applicable requirements.
  4. Agree the report scope. Establish whether a declaration, MFR report or annual financial information is needed.
  5. Allow for follow-up. Separate preparation from QBCC assessment and any further information requested.

For category 1–7 annual reporting, QBCC generally accepts lodgements from 1 August with a 31 December due date. Check the written notice for your reporting day and confirm whether an exemption applies. A revenue increase may need attention before that annual deadline.

Fees, timing and next steps

Ask for a quote that separates bringing the accounts up to date, preparing the required report and responding to further questions. Timing depends on record quality, related entities and any financial shortfall. Include the deadline shown on your QBCC notice when you contact our Southport team; preparation time and QBCC processing time are separate.

Related: business structuring · cash flow forecasts · accounting

Start with the reporting requirement

Tell us whether you need annual reporting, a revenue increase or help responding to a QBCC notice. Include the licence holder and any deadline so we can discuss the scope.

Our construction accounting service connects reporting with ongoing records and cash planning. Meet our team.

Discuss your QBCC reporting

Or call (07) 5597 0661 or email [email protected] — first consultation free.

FAQ

QBCC questions, answered

What is QBCC annual reporting?

Annual reporting gives QBCC financial information about a contractor’s business. Requirements depend on the licence holder and financial category: qualifying individual licensees in SC1 and SC2 are exempt from annual reporting, but must still meet minimum financial requirements. Company licensees and other categories have different obligations. We check which rules apply before preparing a return.

What is an MFR report and when do I need one?

An MFR report is a detailed financial report prepared and signed by a qualifying accountant. You generally need one when applying for a new licence in the higher categories, when your allowable annual turnover needs to increase, or when the QBCC asks for one. It must show your business satisfies the minimum financial requirements, including the current ratio test of at least 1:1 and the net tangible assets requirement for your approved maximum revenue.

My revenue is going to exceed my licence limit — what do I do?

Monitor revenue against the maximum approved by QBCC. You must not exceed that maximum by more than 10% in a financial year without first providing QBCC with the required financial declaration or MFR report supporting the increase. A revenue increase may require an MFR declaration or report and sufficient net tangible assets. If new contracts could push you beyond the limit, arrange a review early rather than waiting for year end.

Can you fix a QBCC problem after the fact — like a late report or an NTA shortfall?

We can review the accounts, outstanding reporting and any QBCC notice to identify the next steps. A late return and a net tangible assets shortfall need different responses. Changes to capital, assets or the business structure must be assessed against QBCC’s rules and your tax position. A solution depends on the facts; we cannot promise that a suspension or shortfall can be reversed.

Do you work with trades and builders across the Gold Coast?

Yes — we support builders, trade contractors and construction businesses across the Gold Coast. Beyond QBCC compliance we handle their BAS, tax planning, equipment and structure decisions, so the licence reporting comes out of accounts that are already in order.

Get in contact today to find out how we can help you.

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