QBCC compliance is not standard accounting. A licence holder's financial reporting obligations are specific, and getting them wrong puts the licence — and the right to tender — at risk.
What MFR actually means
Minimum Financial Requirements (MFR) is the QBCC's framework for making sure licensees can actually meet the financial commitments of the work they're licensed to do. It has two halves:
- Annual reporting — a yearly MFR report lodged with the QBCC.
- Current reporting — triggered when a licensee's actual turnover approaches or exceeds their maximum revenue limit.
Turnover categories matter
Your licence sits in a turnover category that sets your maximum revenue. The numbers and the supporting evidence the QBCC needs differ by category. Moving up a category isn't automatic — it requires the right financial position and the right documentation, lodged at the right time.
What the QBCC needs to see
- Financial statements that actually reconcile to the lodgements.
- Net tangible assets at or above the threshold for the category.
- A clear view of related party loans and their treatment.
- Evidence that the structure can absorb the work the licence allows.
Where it goes wrong
Most failures aren't about the numbers — they're about the documentation. Statements that don't tie out, related party loans left unexplained, or a category change attempted without the supporting position. A generic accountant who doesn't live in the MFR framework routinely produces reports the QBCC pushes back on.
How we keep a licence live
We prepare MFR reporting that's built to be read by the Commission, not just by you. That means statements that reconcile, a structure that holds at the category you hold, and lodgement timed to the QBCC's cycle — not June panic.
If your last MFR report was prepared by someone who had to look up the framework, that's the risk to fix before the next reporting round.
