Retention Trust Accounts

Understand retention trust accounts, your legal responsibilities and cashflow impact

Navigating the complexities of retention trusts can be overwhelming, especially for newcomers. While recent legislative changes have simplified some aspects, understanding your obligations remains essential for managing cash flow and complying with regulations.

Our retention trust short course is designed to equip you with the knowledge and confidence needed to excel as a trustee. Whether you're new to the role or seeking a refresher, this interactive workshop will provide valuable insights and practical guidance.

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?

In July 2024, the Queensland Government passed legislation to remove the requirement for new trustees of retention trusts to complete a mandatory training course with the QBCC. While Master Builders welcomes Government initiatives to reduce red-tape on industry members, the change has left a training gap for our industry.

To address this training gap, our Retention Trust Accounts workshop will equip you with a solid grasp of retention trusts and to ensure you’re meeting your legal obligations and managing cashflow impacts for your business.

Course outline

In this practical and interactive livestream workshop, you'll learn:

When is a retention trust account required?
How to set up a retention trust account?
What payments can be made into a retention trust account?
What payments can be made from a retention trust account?
What are a trustee’s general powers, obligations and accountabilities when administering a retention trust?
What are the records and accounting requirements for a retention trust?
How and when can you close a retention trust?

Enrol in an upcoming date

Give us a call on 1300 13 60 02 for assistance or to register your interest for the next course date in your area.

Non-funded: member

If you are a Master Builders member, choose from the below course options to book. The price for members is $250 (Inc. GST).

Non-funded: non-member

If you are not a Master Builders member, choose from the below course options to book. The price for non-members is $270 (Inc. GST).

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).

Course details

Duration	Three hours
Delivery	Livestream online interactive workshops
Cost	Full course price: Members full course price: $250 (Inc GST) Non-members full course price: $270 (Inc GST) Funded course price: 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. Find out more information on funding 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.