With project trust account (PTA) requirements substantially changing the way builders must manage and financially administer contracts for middle to large construction projects, there is help at hand.

Knowledge of both project trusts and retention trusts is critical. The Master Builders workshop covers project trusts and PTAs and is complimentary to the mandatory Queensland Building and Construction Commission (QBCC) training on retention trusts.

Master Builders workshops

Master Builders offers a four-hour interactive workshop that will help you understand the process of opening and managing PTAs.

The workshop will help you understand when you need to set up a PTA for a construction contract, how to set up a PTA, and your management obligations when running a PTA.


Mandatory QBCC training

From 1 January 2022, trustees of a retention trust or their nominated account administrator must complete retention trust training. Under new legislation to commence in December, the training can only be undertaken through the QBCC.

New trustees must complete the mandatory QBCC training within 20 business days of withholding an eligible retention amount. Existing trustees will also need to complete the training.

Training will be first available in the short-term via webinars while a long-term learning management model is developed. You can register for the training sessions on the QBCC website or nominate an account administrator to complete the training.

Failure to complete the QBCC training is an offence and attracts substantive fines for failure to comply.

For more information or to register for an upcoming QBCC webinar, please visit the QBCC website for regular updates.

More QBCC details

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