Project trust account (QLD)

A project trust account (PTA) is a trust account that a head contractor on an eligible Queensland building contract must hold each progress payment in, on trust for its subcontractors, under the Building Industry Fairness (Security of Payment) Act 2017 (the BIF Act). The money sits in trust until it is paid out, so if the head contractor becomes insolvent the subbies’ money is not swept up with the head contractor’s general assets.

The PTA replaced the earlier Project Bank Account (PBA) model. The purpose is the same: ring-fence payment so it flows down the chain even when the party above fails.

When a PTA is required (as at 2026): Queensland State Government and Hospital and Health Service contracts of $1 million or more (ex GST); state authority, local government and private-sector contracts of $10 million or more (ex GST). A contract is generally only caught where more than half the price is for “building work”, and some related-entity contracts are carved out. The planned expansion to lower-value private contracts (down to $3 million, then $1 million) was paused indefinitely by proclamation in early 2025, so the $10 million private threshold still stands.

How it works in practice:

• The head contractor is the trustee: it opens the PTA and deposits each progress payment received.
• Subcontractors are the beneficiaries, paid from the account.
• A separate retention trust account holds cash retentions; the PTA is for progress money.
• The QBCC can audit the account, and the trustee must keep prescribed records.

Also known as: PTA, project trust.

Category: Payment / Queensland.

Related

• Building Industry Fairness Act (QLD)
• Statutory trust account
• Security of Payment (QLD)

See also

• Retention
• Progress claims

References

• QBCC, Trust account rollout (verified 2026-06-10)
• Building Industry Fairness (Security of Payment) Act 2017 (QLD) (verified 2026-06-10)

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Last updated: 2026-06-10. Verified: 2026-06-10. Quarterly review for currency.