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Top tips for minimum financial requirements reporting
Queensland has introduced a minimum financial requirements (MFR) framework to ensure a licensee’s business is financially sustainable and has the correct level of working capital.
Wednesday, 27th July 2022
Licensees are currently unable to exceed their allowable maximum income by more than 10%. However, many businesses are currently exceeding this threshold. The HIA has advice for businesses that are concerned they are earning more than their maximum revenue.
Among the tips offered in this resource are:
- apply to increase your maximum revenue
- don’t wait until the reporting period if you believe you will exceed your threshold
- include submissions with your application
- talk to your accountant
- be transparent and honest with your position.
If you have concerns about exceeding your MFR category, this resource has practical advice to assist you.
Access this resource now
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Who is it for?
Building Professionals
This resource is designed for builders and industry professionals who want to understand more about their minimum financial reporting requirements.
What does it include?
- Applying to increase your maximum revenue
- Including submissions with your application
- Engaging an accountant
- The importance of transparency and honesty.