BIF Chapter 2: Project Bank Accounts

Learn everything you need to comply

Project Bank Accounts already apply to government projects between $1M and $10M Inc. GST under Chapter 2 BIFA.

This has been mandatory since March 2018 and will continue to apply, therefore it's vital for builders who carry out government work that falls within these limit to learn what's required and ensure that they comply with Chapter 2 BIFA.

There are significant consequences (fines and imprisonment) for non-compliance. Enrol in one of our livestream interactive workshops and learn from a Master Builders Members Legal specialist what you need to do to comply with the numerous obligations for head contractors for a Project Bank Account project.

Eligible students pay just $50 (save $170)^ with funding.
For full funding and eligibility information, see Course Details below or contact us on 1300 13 60 02.

LIVESTREAM ONLINE INTERACTIVE COURSES - SEE  'UPCOMING DATES'
Workshops and spots are limited – so book your place today!

Phone 1300 13 60 02 Enquire now

Course outline

The legislation for Project Bank Accounts has been in place since March 2018 and applies to all projects in which:

  • The contract price is between $1m and $10m Inc. GST
  • The principal is the state government (or a state authority if they opt-in)
  • More than 50% of the contract price is for ‘building work’ as that term is defined in Chapter 2 of the BIF Act; and
  • The builder engages subcontractors.

There are significant consequences (fines and imprisonment) for non-compliance. In this workshop, we’ll walk you through what you need to do to comply with the numerous obligations for head contractors for a Project Bank Account project.

In this practical workshop you'll learn:

  • How to set-up the accounts
  • What notifications you need to give to the principal and the subcontractors
  • How deposits into the accounts are handled
  • How payments out of the accounts are handled
  • What trust account records must be kept
  • How to manage the accounts
  • What other obligations you have.

Course details

DurationFour hours
Delivery
  • Livestream online interactive workshops - select dates - see 'Upcoming Dates'
Cost

Full course cost:

  • Members & non-members: $220 (Inc GST)

Funded course cost:

  • Members & non-members: $50 (Inc GST)^

^CSQ funds to a maximum of $170 for this course. To be eligible for funding, the enrolling student must work in the building and construction industry and be a small business owner or employee (directly involved in the day-to-day running of the business). A small business is defined as less than 20 employees in the building and construction industry. You can check your funding eligibility here or call us on 1300 13 60 02.

Eligibility Candidates should be able to demonstrate a sufficient level of language, literacy and numeracy (LLN) skills. 
Participants must work in the building and construction industry.

This is not a Nationally Recognised Training course.

Upcoming dates

Choose a date and venue that suits you by choosing whether you're eligible for a fully funded option or can take advantage of our member price. Not sure which to choose or no dates that suit? Give us a call on 1300 13 60 02 for assistance or to register your interest for the next course date in your area.

Non-funded

If you are not eligible for funding, choose from the below course options to book. The full price for both members and non-members face-to-face course is $220 (Inc. GST). Check here to see if you're eligible for funding, or call us on 1300 13 60 02.

Funded

If you are eligible for funding, choose from the below course options to book. The funded price for both members and non-members is $50 (Inc. GST)^. Check here to see if you're eligible for funding, or call us on 1300 13 60 02.

^CSQ funds to a maximum of $170 for this course. To be eligible for funding, the enrolling student must work in the building and construction industry and be a small business owner or employee (directly involved in the day-to-day running of the business). A small business is defined as less than 20 employees in the building and construction industry. Call 1300 136 002 to check eligibility or for more information.


Terms & conditions

Please read Master Builders training and licensing policies and Student Handbook prior to enrolment.

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