Skip to main content

Information seminar: project bank accounts (PBA's) in the Private Sector

February 18, 2019

Once it commences in the private sector (date yet to be confirmed) a PBA will be required where:

  • The contract is for ‘building work’; and
  • The contract price is $1 million or more (inclusive of GST).

There are some important exclusions to the above. The most relevant for HIA members is that:

  • A PBA is not required for a building contract if the only building work that the contract is for is residential construction work relating to less than 3 living units
  • 1 living unit = single detached dwelling
  • 2 living units = a duplex
  • 1 living unit = a residential unit

Those Head Contractors who only construct single detached dwellings will not be affected by PBAs.

McCarthy Durie Lawyers will be running a free information session on Project Bank Accounts (PBAs) and what you need to know on Tuesday 26 March 2019 from 9am-10am at the HIA Brisbane Office in South Brisbane. Afterwards you will have an opportunity for a free legal consultation of 15 minutes. Spaces are strictly limited. To book your place please email with you HIA membership number, best contact phone number and whether you are interested in a free legal consultation afterwards.