Insights

Trust Account Update – August 2024

MONTHLY TRUST ACCOUNT UPDATE – AUGUST 2024 Here’s a copy of what was sent to parties that are subscribed to our monthly trust account update.  AUGUST Queensland trust account statistics With roughly one new PTA opened each day and 10 new trustees for the month, here are the key statistics: Total Trust Accounts: 1,783 currently open Trustees: 347 builders and developers managing active trust accounts New Accounts Opened: 29 PTAs and 6 RTAs in August.

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Project trusts: Getting to know Queensland’s trust account framework

For building and construction businesses in Queensland there are new rules around how to manage project funds coming into play. And it may not be long before we see similar rules around the country.

 

In 2017, the Queensland State Government announced the Queensland Building Plan, which includes a range of reforms that aim to improve the quality of building projects, resolve licensing issues and increase security of funding for those projects.