Crest Accountants Services

QBCC Accountants Gold Coast

QBCC Accountants Making Your Financial Requirements Easy

In 2019, the Queensland Government and Queensland Building & Construction Commission (QBCC) introduced the Minimum Financial Requirements (MFR). While these requirements help minimise losses to construction businesses and aim to reduce liquidations, the requirements can be confusing. This is why our QBCC Accountants Gold Coast are here to help you with easy QBCC accounting services to take the stress away.

If you’re in the construction or trade industries then it’s important you keep up to date with the latest from the QBCC. Our team can help you do just that.

How Our Gold Coast QBCC Accountants Can Help You

For more than 45 years, our team at Crest Accountants on the Gold Coast have been helping businesses meet and understand their financial obligations. When the QBCC released their financial requirements in 2019, our team created services to help and support our construction and trades clients even further, making it easy and stress-free. Book an appointment today to see how we can assist you, as we have done for our current construction clients.

Business Planning & Licence Applications

If you’re applying for a contractor-type licence through the QBCC, you’ll need to demonstrate you have a sustainable business with enough capital to get you going. This is known as your Minimum Financial Requirements and can be overwhelming and time-consuming. Our specialised QBCC accountants can help you navigate the process with ease.

QBCC Financial Reporting

It’s easy for building companies to unknowingly make mistakes on their QBCC financial reporting, opening them up to auditing. With Crest accountants QBCC reporting services, Our QBCC accountants Gold Coast help you lodge your financial reports accurately and to current requirements, helping you save time, stress and money now and in the future.

Licence Upgrades

Did you know changes to your business may mean you need to apply for a different QBCC licence? Ensuring you have the right licence type for your class helps you meet your obligations with the QBCC and keep your business running smoothly. We’ll help you navigate the steps with ease and know exactly what you need to do.

QBCC Financial Requirements You Need to Know About

A QBCC licensed business must submit an annual financial report to the QBCC. Depending on the category of business you operate, you will have to share information including profit and loss statements, balance sheet, aged debtors and creditors, statement of cash flow.

Beyond this, certain circumstances may mean either an MFR report or declaration is required.

The QBCC lists the following as the main reasons that would trigger a company to submit a more detailed MFR report:

When you apply for a new licence (licence Category 1 upwards, maximum revenue over $800,001)
If your Net Tangible Asset position decreases by
more than 20% for Category 4-7 licensees and
more than 30% for all other licensees
If you no longer meet the minimum Current Ratio of at least 1:1 (a current ratio shows the amount of current assets of a business in relation to its current liabilities)
If your Maximum Revenue (MR) needs adjusting (MR must not be exceeded by more than 10% in each financial year)
If the QBCC requests it

This applies to Cat 1-7 licensees.

In most circumstances, SC1 and SC2 licensees with annual turnover below $800,000 are required to submit a less complicated MFR declaration.

Depending on a few criteria, some licensees may be exempt from submitting an MFR report or declaration, but it is best to always obtain professional advice. As recently shared by Australian Property Investor, the QBCC takes action to strip licences of businesses that don’t meet reporting requirements.

There are many different areas of the QBCC Minimum Financial Requirements and reporting you need to know, understand and report on when required. If you need help with your construction or trades QBCC financial requirements, our QBCC accountants are here to help in any way you need. We can also help with your other business bookkeeping and accounting needs, giving you an easy, all-in-one solution for your construction and trades business finances.

Minimum Financial Requirements For QBCC

The QBCC Minimum Financial Requirements regulation outlines the minimum financial requirements your Gold Coast construction company needs to meet to ensure you have a strong and financially stable business. You’ll need to demonstrate your maximum revenue, net tangible assets and current ratio through regular reporting of your finances to the QBCC.

Where you don’t meet the minimum requirements, it may change your work in the industry or your obligations. Crest Accountants can help you with the QBCC MFR process, including helping you understand where you currently stand and your potential future.

Maximum Revenue

Your maximum revenue is the maximum turnover your business can earn in a financial year under QBCC regulations. You’ll need to calculate and state your allowable maximum return in your MFR reporting, and then follow this to the QBCC regulations. Not calculating your maximum revenue correctly may cause you headaches down the road, including having to seek permission to exceed your revenue by more than 10% in a reporting period. Having an accountant, like our team at Crest Accountants, will help you calculate correctly based on your current financial situation and projections.

Net Tangible Assets

As part of your QBCC reporting, you’ll need to calculate your net tangible assets, which includes the total assets of your business, less any intangible assets and less all liabilities. Your net tangible assets determine your annual turnover, so it’s crucial to understand what is classified as an asset, intangible asset and liability to prevent any future problems. We can help you assess your current ratio requirements, reporting them accurately to the QBCC to give you the best possible outcome for your business.

Are you meeting your QBCC reporting requirements?

Understanding the complexities and requirements of building and construction business reporting is a big undertaking. However, if you fail to meet requirements, you risk your licence being revoked.

Because of the constant updates and changes, working with an accountant who understands the QBCC reporting requirements is essential. In addition to this, as shared by the QBCC, a licensee must ensure an MFR report is prepared by a qualified accountant who is independent of the licensee.

The requirements may feel like a burden on you as a business owner and some accounting bodies are pushing for reporting requirements to be simplified. In the meantime, having a quality construction accountant who can help you prepare the right declarations, statements and reports will streamline the process and allow you to focus on other areas of your business.

The Specialised Accountant In QBCC for the Construction Industry

At Crest Accountants, we stay up to date with the latest QBCC financial information so you don’t have to (although we help you stay informed so you’re across the financial position and obligations of your business).

If you own a construction or trades company, and/or are tired of feeling frustrated by your QBCC financial reporting then it’s time to contact Crest accountants. Our team can help you to maintain your financial requirements to the QBCC & allows you to work on the things that really matter in growing your business.

Construction & Trade Tips & News

Construction

Important: QBCC MFR Updates – What You Need to Know

If you own a construction business, a recent change to financial reporting requirements may apply to you. Take a look at the details and contact

Tax

REMINDER: Paid a tradie? TPAR reporting is due 28 August

The Australian Taxation Office (ATO) has reminded businesses that pay contractors for certain services that they may need to lodge a Taxable Payments Annual Report

      
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   Aaron Larkin 
 11 days ago
 
 
 Trustindex verifies that the original source of the review is Google. UPDATE - 1 September 2026 After my initial experience, Crest followed up and explained that my original email had unfortunately been caught by their spam filtering. They took the time to investigate what happened and get everything back on track. I have since met with Wesley, and the experience was excellent. He was straightforward, knowledgeable and refreshingly honest about what I actually need rather than trying to sell me services unnecessarily. He gave me practical advice around setting up my contracting business and was very generous with his time. I particularly appreciated Wesley’s practical and transparent approach. He focused on what would genuinely be useful for me rather than trying to push unnecessary services, and that level of honesty goes a long way. Overall, the initial communication issue was disappointing, but the way it was handled afterwards, particularly my experience with Wesley, has significantly changed my impression of Crest. Around a 4.5/5 experience overall and I would happily recommend Wesley. UPDATE – 21 August 2026 Crest Accountants have since contacted me and I now have a meeting booked with them for next Friday. My original review was based on having sent an email directly to their general info email address and receiving no response or acknowledgement for around three weeks. It appears there may have been an issue with my original enquiry reaching the right person, although I'm still not sure exactly what happened. Once contact was established, they got back to me promptly by phone and were helpful in arranging a meeting. I've updated my rating from 1 to 3 stars to reflect this and will update the review again after I've had the opportunity to meet with them and experience their service properly. ORIGINAL REVIEW Extremely disappointing experience with Crest Accountants. I contacted them three weeks ago and received absolutely no response — not even a basic acknowledgement that my email was received. I understand businesses get busy, but three weeks of complete silence from a professional accounting firm is simply poor customer service. If they were unable to assist, a short email saying so would have been perfectly acceptable. Based on my experience at the time, I couldn't recommend them to anyone looking for responsive or reliable communication.

Owner's reply
Hi Aaron, Thank you for your feedback. We're sorry to hear about your experience. We take client service seriously and have reviewed our recent enquiry records. Based on the information available to us, we have not been able to identify an enquiry matching the details outlined in your review. It is possible there may have been a misunderstanding, or that an enquiry was submitted under a different name, such as by a spouse, partner or family member, in which case correspondence may have been sent to that individual. We would genuinely appreciate the opportunity to investigate this further and clarify what has occurred. Please contact our office on (07) 5538 0999 and leave your contact details, requesting that they be passed on to Nigel. I will personally review the matter and follow up with you directly. Kind regards, Crest Accountants
  
 
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   Sarah Greenwold 
 61 days ago
 
 
 Trustindex verifies that the original source of the review is Google. My partner and I moved from NZ to Aus and we were looking around for an accountant that would help my partner transition his business from a sole trader in NZ to now a company set up in Aus. We came across Crest Accountant's and honestly it’s been amazing. We have Sarah as my partners accountant and she is so awesome, so lovely and always helps, she explains things clearly to us and we are quite new to all the ‘accounting terms’ as such… But Crest accountants have made the transition so easy for us and as something we would think would be stressful, it hasn’t at all because they’ve been so helpful and onto it. If you are looking for an accountant, I can’t recommend Crest enough! We are so happy with our decision and will recommend them to anyone! Thank you Crest!

Owner's reply
Thank you for your kind words and for trusting Crest Accountants with your move from New Zealand to Australia. We're thrilled to hear Sarah helped make the transition from sole trader to company structure simple and stress-free. Providing clear accounting, tax and business advice for small business owners is what we're all about. We appreciate your recommendation and look forward to supporting your business growth for years to come!
  
 
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   Ada Skopljak 
 73 days ago
 
 
 Trustindex verifies that the original source of the review is Google. I can’t recommend Sarah Fleming from Crest Accountants highly enough. She has been absolutely fantastic throughout my accounting and tax matters. Sarah is incredibly knowledgeable, professional, and thorough. She took the time to explain everything clearly, answered all of my questions with patience, and made what initially felt like a stressful situation much easier to understand and manage. Her attention to detail and genuine commitment to achieving the best outcome for her clients really stood out. I truly felt supported throughout the entire process, and it gave me great confidence knowing my finances were in such capable hands. If you’re looking for an accountant who is honest, reliable, approachable, and exceptionally good at what she does, I would highly recommend Sarah Fleming and the team at Crest Accountants. Thank you, Sarah, for all your hard work and outstanding service!

Owner's reply
Thank you so much for such a thoughtful review, Ada. We’re delighted that Sarah made your tax and accounting matters feel clear and manageable — she genuinely cares about getting the best result for every client, and we’ll be sure to pass on your kind words. It’s a pleasure having you with Crest Accountants, and we’re always here whenever you need us.
  
 
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   Joanne Roberts 
 81 days ago
 
 
 Trustindex verifies that the original source of the review is Google. I recently worked with Wesley on a mutual client's finance application and found him to be highly professional, responsive, and easy to work with. He was quick to provide the information required and helped ensure the process progressed smoothly from start to finish. It's always a pleasure working with professionals who are proactive and focused on achieving great outcomes for their clients. I would happily recommend Wesley and Crest Accountants team.

Owner's reply
Thank you, Joanne — it was a pleasure working alongside you. Wesley and the team really value collaborating with professionals who share our focus on great outcomes for clients, and we appreciate you taking the time to share your experience.
  
 
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   stefan kubler 
 152 days ago
 
 
 Trustindex verifies that the original source of the review is Google. I have been dealing with the Crest Team for over a year now. I have found their knowledge with all aspects from Bookkeeping to Tax Guidance, ATO Regulations and obligations to be Over 100%. Very friendly and Helpful Team. Highly recommend their Services

Owner's reply
Thank you Stefan, for your kind review and for being a valued client of Crest Accountants. We’re glad you’ve found our support across bookkeeping, tax advice, and ATO compliance helpful. Providing clear, reliable guidance with a friendly and professional approach is important to us, and we appreciate your recommendation. We look forward to continuing to support you.
  
 
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   Valeria Davidov 
 152 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Craig Pearson has been my accountant for more than 6 years now and I can only say that he is highly professional.

Owner's reply
Thank you so much for your kind words and continued trust over the past 6+ years. Craig takes great pride in delivering a high level of professionalism and service, and feedback like yours is truly appreciated. We look forward to continuing to support you in the years ahead.
  
 
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   Stephen Childs 
 155 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Crest Accountants have provided great service towards our accounting needs for our family business and SMSF. A special mention to our personal accountant Nicole Amaya for all her support and direction over the years and we would certainly recommend Crest Accountants.

Owner's reply
Thank you so much Stephen, for your kind words and recommendation. We’re delighted to hear that Crest Accountants has been able to support your family business and SMSF over the years. We will certainly pass on your special mention to Nicole Amaya, who will be thrilled to know her guidance and support have made a positive difference. We truly appreciate your trust and look forward to continuing to work with you into the future.
  
 
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   Serena Keeffe 
 155 days ago
 
 
 Trustindex verifies that the original source of the review is Google. I’ve had a great experience working with the Crest team. Their clarity in explaining financial matters makes everything easy to understand, even when things get complex. They consistently provide proactive advice that helps me stay ahead rather than just reacting at tax time, which has been incredibly valuable. What really stands out is their focus on long-term support—they genuinely care about helping you grow and make better financial decisions over time. A special mention to Ange, who is always so helpful, responsive, and approachable. She goes above and beyond to make sure everything runs smoothly and no question goes unanswered. Highly recommend to anyone looking for reliable, forward-thinking accounting support.

Owner's reply
Thank you so much for your thoughtful review — we really appreciate you taking the time to share your experience. We’re pleased to hear that our clear explanations and proactive advice have helped you stay ahead and feel confident with your financial decisions. Long‑term support is very important to us, so it’s great to know that’s come through in your experience. Your feedback will be shared with Ange as recognition of the care and dedication she brings to her work. Thank you again for your recommendation and for trusting Crest Accountants as your accounting partner.
  
 
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   Marco Ruas 
 156 days ago
 
 
 Trustindex verifies that the original source of the review is Google. I couldn’t be happier with the service I’ve received from  Angela at Crest Accountants. She is  incredibly professional, knowledgeable, and always takes the time to explain things clearly so I feel confident about my finances. Her attention to detail and proactive approach has saved me both time and money, and she consistently goes above and beyond to make sure everything is handled perfectly. Communication is always prompt and friendly, and nothing ever feels like too much trouble. It’s rare to find someone so trustworthy and genuinely invested in their clients’ success. I highly recommend them to anyone looking for an outstanding accountant.

Owner's reply
Thank you for your wonderful feedback Marco. We’re thrilled to hear about your experience with Angela and appreciate your kind words regarding her professionalism, attention to detail, and clear, proactive communication. Providing trusted advice and ensuring our clients feel confident in their financial decisions is always our priority. Thank you for your recommendation and we look forward to continuing to support you.
  
 
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   Terrie Watson 
 156 days ago
 
 
 Trustindex verifies that the original source of the review is Google. Crest accountants have been our accountants for over 20 years during that time Angela and Wes have supported our businesses with clarity and efficiency They have always been proactive in advising us of changes in the taxation realm and attending to all our accountancy needs in a timely manner I would not hesitate in recommending them to anyone looking for a honest reliable accountancy service

Owner's reply
Thank you Terrie, for your continued trust and for taking the time to share your experience. Supporting your businesses for over 20 years has been a privilege, and we truly appreciate your kind words. We are pleased to know that our commitment to providing timely, proactive advice has delivered meaningful value for you. We sincerely value the long-standing relationship we’ve built and appreciate your recommendation, and we look forward to continuing to support your businesses into the future.