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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 enquiry@hia.com.au with you HIA membership number, best contact phone number and whether you are interested in a free legal consultation afterwards.