The Queensland Building and Construction Commission (QBCC) has cancelled 71 licenses of builders and subcontractors.
The suspesions are a result of not submitting the necessary financial reports to the regulator.
As a result of the suspensions, these tradies and builders will be unable to take on any new work.
The idea behind the financial reporting requirement is to ensure that builders and other trades businesses are financially healthy enough to be taking on contracts. In theory it helps consumers by protecting them from financial unsound builders.
According to the QBCC, each of the 71 recent suspensions related to businesses with an allowable turnover of up to $200k. So we’re really talking about the smaller trades businesses here, rather than genuine builders.
QBCC Commissioner Anissa Levy says the licensees had plenty of time and were given plenty of warnings to comply.
“The licensees were reminded several times to lodge their reports but failed to submit the required information which was due on March 31.”
If these trades businesses don’t provide the required financial reports by 19 September their licences will be cancelled.
Do you you think this is a sign of the current difficult times in the building industry, or just the standard number of trades businesses that fall over each year?