BIF Project Trust Accounts Course

Set-up and manage project trust accounts

From 1 January 2022, project trust accounts (PTAs) were for the first time expanded to include private sector projects (as opposed to just Government projects).

The new requirements substantially changed the way builders must manage and financially administer contracts for middle to large construction projects.

Our three-hour interactive workshop will help you understand when you need to set up a project trust account for a construction contract, how to set up a project trust account, and your management obligations when running a project trust account.

Learn from industry experts what you need to do and need to know to avoid serious fines and potential jail time.

CSQ funding for small businesses now available.^
For funding information, see Course Details below or contact us (eligibility applies).

Phone 1300 13 60 02 Enquire now

Why enrol?

Mandatory Trust requirements for the building and construction industry were first introduced in Queensland in March 2018. These requirements are governed by the Building Industry Fairness Act (Security of payment) Act 2017 (BIF Act) and its Regulation.

Commencing 1 March 2021, changes were made to the BIF Act to support a revised trust account framework. Under the revised framework, project bank accounts (PBAs) were phased out and replaced by project trust accounts (PTAs).

On 1 January 2022, PTAs were for the first time expanded to include private sector projects (as opposed to just Government projects). The new requirements substantially changed the way builders must manage and financially administer middle to large construction projects.

Subject to some exceptions, construction contracts that may need to be administered through a project trust include:

From 1 January 2022: Construction contracts 1M or more (Ex GST) with the State Government or a hospital health service, and construction contracts $10M or more (Ex GST) with local government or the private sector.
From 1 March 2025: Construction contracts 1M or more (Ex GST) with the State Government or a hospital health service, and construction contracts $3M or more (Ex GST) with local government or the private sector.
From 1 October 2025: Construction contracts $1M or more (Ex GST) with the State Government, a hospital health service, local government, or the private sector.

Our three-hour interactive workshop will help builders understand when they need to set up, and how to manage a project trust account for a construction contract.

Get the vital knowledge you need to understand the impacts of the new requirements for your business and what to do to comply with the new laws.

Knowledge of both project trusts and retention trusts is critical for builders.

Course outline

In this practical workshop, you'll learn:

What a Project Trust Account is
What contracts require a Project Trust Account
How to set-up and manage a Project Trust Account
How to make and receive payments from a Project Trust Account
What records and accounting requirements must be met
How to close a Project Trust Account
What to do if you're audited by the Queensland Building and Construction Commission (QBCC).

Enrol in an upcoming date

Choose a date and venue that suits you by choosing whether you're eligible for a funded option or members can take advantage of our member price. Not sure which to choose or no dates that suit? Give us a call on 1300 13 60 02 for assistance or to register your interest for the next course date in your area.

Funded

If you are eligible for funding, choose from the below course options to book. The funded price for both members and non-members is $70 (Inc. GST)^. Check to see if you're eligible for funding, or call us on 1300 13 60 02.

^CSQ contributes towards the cost of this course under the small business program (subject to funding availability and eligibility criteria).

Non-funded: members

If you are not eligible for funding, choose from the below course options to book. The full price for members is $250 (Inc. GST). Check to see if you're eligible for funding, or call us on 1300 13 60 02.

Non-funded: non-members

If you are not eligible for funding, choose from the below course options to book. The full price for non-members is $270 (Inc. GST). Check to see if you're eligible for funding, or call us on 1300 13 60 02.

Course details

Duration	Three hours
Delivery	Livestream online interactive workshops Face-to-face workshop
Cost	Members full course price: $250 (Inc GST) Non-members full course price: $270 (Inc GST) Funded (small business) course price: $70 (Inc GST)^ CSQ provides funding to reduce the financial obstacle to training, making upskilling an affordable option for many more individuals in the construction industry. ^CSQ contributes towards the cost of this course under the small business program. Eligibility criteria applies – enrolling student must be a small business owner or employee of a building and construction business (directly involved in the administrative day-to-day running of the business). A small business is defined as less than 20 employees in the building and construction industry. See more information or call 1300 136 002 to check your eligibility and to enrol.
Eligibility	Participants must work in the building and construction industry.
Outcome	This is not a Nationally Recognised Training course. You will receive a Statement of Completion.