Head Contractor Trust Account Obligations QLD | PayTrade

Understand and meet your trust account obligations as a head contractor in Queensland. PayTrade simplifies QBCC trust account compliance.

head contractortrust account obligationsQBCCBIF ActcomplianceQueensland construction

Trust Account Obligations for Head Contractors

Head contractors on eligible projects in Queensland have specific obligations under the BIF Act regarding the establishment and management of trust accounts.

Key Obligations

  • Establish a project trust account within required timeframes
  • Deposit all project payments into the trust account
  • Make subcontractor payments from the trust account
  • Maintain accurate records and reconciliations
  • Report to the QBCC as required
  • Establish retention trust accounts where applicable

PayTrade automates these obligations, reducing administrative burden and ensuring compliance.

Ready to get started?

Sign up for PayTrade today and simplify your construction trust accounting.

Get Started Free