The reforms in the Building Reg Reno mark a significant step in further modernising regulation while maintaining strong safeguards for industry and customers by cutting red tape, reducing unnecessary costs, and ensuring the industry runs smoother.
As Queensland’s building industry regulator, we have been advocating for regulatory reform for some time and have been collaborating with the Department of Housing and Public Works on these proposed regulation reforms for several months. We welcome these important changes to ensure our industry runs as efficiently as possible.
These changes will be rolled out progressively through a series of tranches to improve productivity within the building and construction industry, while continuing to support efficient risk-based regulatory efforts and appropriate building standards.
The first tranche paused the further rollout of trust accounts to private projects below $10 million to help smaller contractors focus on building.
This also gives more time to educate builders and subcontractors on existing payment protections, ensuring they know their rights and options.
The framework continues to apply to:
- eligible Queensland Government contracts of $1 million or more
- private sector, local government, statutory authority and government-owned corporation contracts of $10 million or more.
For more information about Trust Accounts, visit the Trust Account page on our website.
For more information on Queensland’s Building Reg Reno, visit Building Reg Reno page on the Department of Housing and Public Works’ website.