MONTHLY TRUST ACCOUNT UPDATE – May 2024
Here’s a copy of what was sent to parties that are subscribed to our monthly trust account update.
MAY Queensland trust account statistics
This month we saw a large increase in the number of PTAs opened – nearly double the April stats. There are still more State Government PTA projects than Private, but the Private sector projects are increasing more rapidly now.
Here’s a snapshot of the information published on the QBCC Trust Account Register.
As at 31 May 2024:
– Total of 1470 trust accounts currently open
– 317 trustees (builders and developers that are managing an active trust account/s)
– 41 new PTAs and 9 RTAs opened in May.
Who has the most PTAs?
- Hutchinsons with 115 PTAs
Then
- Kane Constructions (QLD) with 42
- McNab Developments (QLD) with 34
- Paynters with 33.
Do people have one or more RTAs?
The majority of builders have one RTA that they use across all of their PTA projects.
There are a few exceptions to this with McNab Developments (QLD) and McNab NQ, Bryant Building Contractors and Mosaic Construction all having a separate RTA for every PTA project.
Need further information?
Please reach out if you have any questions or feedback – or just want to talk trusts!
Thanks kindly,
Laura and the Building Trusts team
Call 0481 194 000 or email [email protected].