Unlock New Revenue Streams, Win More Clients, and Cement Your Reputation as a Compliance Leader If your accounting firm serves builders or subcontractors in Queensland, you know project and retention trust account compliance under the BIF Act is mandatory now for phase 1 and phase 2 rollout. Builders are not accountants, and they’re actively […]
We’re excited to announce a major milestone—BuildTrust is now officially listed by the Queensland Government as an assessed trust account software solution, making us the first in Australia along with Premier CS to achieve this recognition under the Building Industry Fairness (Security of Payment) Act 2017 (BIF Act). Why This Matters In recent years, legislative reforms […]
Cash flow management is one of the most critical aspects of running a successful construction business. Without it, even the most lucrative projects can face delays, and operations can come to a standstill. As a builder or head contractor in Australia, you must ensure that your cash flow remains steady to cover ongoing expenses, pay […]
When managing a construction project, builders and head contractors often face situations where immediate cash is required to keep things running smoothly. Bridge loans can be a valuable tool for managing short-term cash flow gaps, but understanding how they work and when to use them is crucial. In this guide, we’ll explore what builders need […]
As a builder or head contractor, securing funding for your next project can be a critical step in ensuring its success. Whether you’re looking to expand your business, take on larger projects, or invest in new equipment, a solid business plan is essential for obtaining funding approval. In this guide, we’ll explore the key steps […]
Subcontractors are the lifeblood of Queensland’s construction industry, yet they often face financial challenges due to delayed payments or contractor insolvencies. To combat this and build trust, Queensland has introduced Project Trust Accounts (PTAs) and Retention Trust Accounts (RTAs) under the Building Industry Fairness (Security of Payment) Act 2017 (BIF Act). These legislative measures ensure […]
Understanding the BIF Act and QBCC Trust Requirements The Building Industry Fairness (BIF) Act and the Queensland Building and Construction Commission (QBCC) regulations play a vital role in ensuring transparency and fairness in the Queensland construction industry. These regulations govern Project Trust Accounts (PTAs) and Retention Trust Accounts (RTAs), protecting subcontractors and suppliers. Recent updates […]
In Queensland’s bustling construction industry, safeguarding the flow of funds is paramount for maintaining the health and integrity of all operations. Governed by the Queensland Building and Construction Commission (QBCC), the industry adheres to strict standards that require not just expertise in construction but also financial compliance. With the enactment of the Building Industry […]
The Leading Trust Account Management Software for Head Contractors Trust Account Management Software for Head Contractors In the ever-evolving construction industry of Queensland, staying compliant with statutory trust requirements as per the BIFOLA Act is paramount. As head contractors or builders, managing trust accounts can be a daunting task. However, with BuildTrust, the leading project […]
