If you are required to report to the QBCC, we encourage you to calculate your net tangible assets (NTA) before 30 June.
Your NTA will determine your maximum revenue for the forthcoming year – ensure your NTA is adequate so you can trade at full capacity for the 2021-22 financial year.
The minimum current ratio for a licensee is 1:1. You must have at least $1 in current assets for each $1 of current liabilities.
If you require more information, these pages on the QBBC website may be of assistance to you:
Financial categories – Minimum Financial Requirements
Current Ratios
Net Tangible Assets
How can Walsh Accountants help you?
A division of Walsh Accountants, the Property and Construction team encompasses a group of accountants and advisors that specialise in everything property and development.
They can assist you to understand all the QBCC requirements and help to review your current financial position to ensure you meet the assets vs liability ratio to satisfy the minimum financial requirements.
If you need assistance, please contact our office on 55923644 or email info@walshaccountants.com
