Each state and territory in Australia has a distinct construction security of payment legislative framework in place. This can present uncertainty and pose a challenge for industry stakeholders, particularly principals and contractors that operate across multiple states and territories in Australia. In order to assist, we have prepared an Australia-wide comparison table of every security of payment legislation in place. You can download the table by clicking on the image below. Our …
New laws to expose lengthy business payment terms
Today, the Coalition Government introduced a bill into Federal Parliament that will require businesses and government enterprises with an annual total income of >$100 million to publicly report on their payment terms/practices for ‘small business suppliers’ (entities with less than $10 million annual turnover) every six months. The Payment Times Reporting Bill 2020 (Cth) (the Bill) will not mandate any specific payment terms or time requirements, however it will introduce a Payment Times …
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Queensland Building Industry Law Reform – Building Industry Fairness Bill 2020 – Part 2
The idea in brief: We recently prepared our first article in a two-part series (available here) on the Building Industry Fairness (Security of Payment) and Other Legislation Amendment Bill 2020 (the BIF Amendment Bill). The introduction of the BIF Amendment Bill came as a result of the combined recommendations of the Building Industry Fairness Reforms Evaluation and Implementation Panel and the recent Special Joint Taskforce into Fraud in the Construction Industry, which resulted in …
Queensland Building Industry Law Reform – Building Industry Fairness Bill 2020 – Part 1
The idea in brief: In 2019, as part of a long running prior-election promise to tackle reform to the building and construction industry, the Queensland Government commissioned two reviews: the Building Industry Fairness Reforms Evaluation and Implementation Panel, (the Panel Review) tasked with reviewing the effectiveness of security of payment laws in the building and construction industry; and the Special Joint Taskforce, which investigated complaints of …
BIF Act Review
As you may know, the Building Industry Fairness (Security of Payment) Act 2017 (the BIF Act) required the Minister for Housing and Public Works to appoint a Building Industry Fairness Reforms Evaluation and Implementation Panel (BIF Act Review Panel) to undertake a review of the operation and effectiveness of the 2017 suite of building and construction reforms and prepare a report of the outcome of its findings. The appointed BIF Review Panel has now released its report. The panel made 20 …