Skip to content

  • Home
  • COVID-19 Guide
  • Podcast library
  • Client results
  • Expertise
  • News & Insights
  • People
  • Our DNA
  • Inclusion and Diversity
  • Join us
  • Contact Us
Home / NEWS & INSIGHTS / Insight / BIF Act Update
Insight 15 June 2018

BIF Act Update

WHO SHOULD READ THIS
  • All participants in the Queensland construction industry.
THINGS YOU NEED TO KNOW
  • The commencement of the security of payment provisions of the BIF Act has been postponed until 17 December 2018.
WHAT YOU NEED TO DO
  • Contracts and the administration of payment processes should be reviewed and updated prior to the commencement of the legislation.

Update: Next stages of the BIF Act to now commence from 17 December 2018

On Tuesday (12 June 2018), the Minister for Housing and Public Works, Mick de Brenni MP announced that the next tranche of the implementation of the Building Industry Fairness (Security of Payment) Act 2017 (Qld) (BIF Act) will commence from 17 December 2018.

Postponed commencement

Previously, the Government announced that the security of payment regime under the BIF Act – including the replacement of the Building and Construction Industry Payments Act 2004 (Qld) – would commence from 1 July 2018. Based on Tuesday’s announcement, the security of payment amendments will now not commence until 17 December 2018.

The announcement does not explain the reason for this delay, but as there are considerable aspects of the legislation to be dealt with in regulations (which have not yet all been published), we anticipate that the Government may release those further regulations in the intervening period.

Review of the BIF Act

Separately, the Government has established a panel to evaluate the operation and effectiveness of the BIF Act, including project bank accounts which commenced on certain Government projects on 1 March 2018. The terms of reference (which may be found here) include determining ‘the effectiveness of the legislative framework in achieving policy intent’. The panel members are appointed for 12 months and this process will result in a report being tabled in Parliament. It is likely that this process will result in changes to the BIF Act.

A copy of the Government’s press release may be found here.

We will keep you updated on the progressive implementation of the BIF Act and how it will affect your projects in Queensland. Our Annual Construction Conference which will be held on 20 September 2018 will feature a detailed update on the BIF Act.

This publication covers legal and technical issues in a general way. It is not designed to express opinions on specific cases. It is intended for information purposes only and should not be regarded as legal advice. Further advice should be obtained before taking action on any issue dealt with in this publication.

About the authors

  • Matt Bradbury

    Partner
  • Michael Rochester

    Partner
  • Alex Power

    Special Counsel
  • Brittany Parker

    Special Counsel
  • Goran Gelic

    Special Counsel
  • James Arklay

    Partner
  • Joseph Jones

    Senior Associate
  • Chris Nielsen

    Partner
  • Erika Williams

    Senior Associate

In other news

Tax administration lessons learnt from COVID-19 (and promptly forgotten)

24 February 2021Insight

Queensland’s new project trust regime to commence on 1 March 2021

15 February 2021BIF Act Amendment Series, Insight

McCullough Robertson strengthens its National Construction and Infrastructure team with key Partner hire in Brisbane

27 January 2021News

New Industrial Relations Laws – What it means for you

22 December 2020Insight

VIEW ALL NEWS & INSIGHTS

BRISBANE

Level 11, 66 Eagle Street
Brisbane QLD 4000
GPO Box 1855
Brisbane QLD 4001
Tel +61 7 3233 8888
Fax +61 7 3229 9949

 

GET IN TOUCH

    Contact form

    We handle your personal information in accordance with our privacy policy.

    sydney

    Level 32, MLC Centre
    19 Martin Place
    Sydney NSW 2000
    GPO Box 462
    Sydney NSW 2001

    Tel +61 2 8241 5600
    Fax +61 2 8241 5699

     

    GET IN TOUCH

      Contact form


      We handle your personal information in accordance with our privacy policy.

      melbourne

      Level 27, 101 Collins Street
      Melbourne VIC 3000
      GPO Box 2924
      Melbourne VIC 3001

      Tel +61 3 9067 3100
      Fax +61 3 9067 3199

       

      GET IN TOUCH

        Contact form

        We handle your personal information in accordance with our privacy policy.

        follow us

        CLIENT LOGIN

        newcastle

        Level 2, 16 Telford Street
        Newcastle NSW 2300
        PO Box 394
        Newcastle NSW 2300

        Tel +61 2 4914 6900
        Fax +61 2 4914 6999

         

        GET IN TOUCH

          Contact form


          We handle your personal information in accordance with our privacy policy.

          canberra

          Level 9, 2 Phillip Law Street
          Canberra ACT 2601

          Tel +61 2 6243 3699
          Fax +61 2 8241 5699

           

          GET IN TOUCH

            Contact form


            We handle your personal information in accordance with our privacy policy.

            © 2017 McCullough Robertson. Site map Disclaimer Privacy Policy Statement of Business Ethics Credit Reporting Policy

            X