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Queensland Christmas cut-off
QUEENSLAND CHRISTMAS CUT-OFF
Claim in on 22 December? It may count as received on 11 January.
Under Queensland’s BIF Act, 22 December to 10 January are not business days. Payment clocks pause, but wages, suppliers and the January BAS do not. We help you plan funding for the gap before the break.
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Plan the gap before the shutdown
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Cover wages, suppliers and leave pay
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Major, non-major and private lenders
Make an enquiry
A broker will call you to discuss your options. No obligation.
SOUND FAMILIAR?
The calendar stops. Your bills don’t.
The payment clock pauses. 22 December to 10 January are not business days under the BIF Act.
Holiday pay goes out in December. Wages and leave are due before the break, not after it.
Suppliers still want paying. Trade accounts and equipment repayments keep running.
January is quiet. Claims restart slowly, and the next payments can land in February.
BAS lands on 28 February. Just as January’s slow payments arrive, the quarterly BAS for October to December falls due.
Head contract or subcontract, the dates differ. Payment timeframes under your contract and the BIF Act aren’t the same for everyone. Knowing your dates is half the plan.
HOW WE HELP
Planning for the break, not reacting to it.
Structure
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A short-term facility for the shutdown
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Funding against certified claims
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Repayments set for a quiet January
Lender fit
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Lenders who understand construction cycles
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Options for subcontractors and head contractors
Timing
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Start the conversation in November
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In place before your last December claim
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Mapped to when payments are likely to land
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Reviewed once January claims are paid
Tomorrow
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Back on site in January with cash to start
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Room for the first claims of the new year
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A plan you can reuse next Christmas
WHAT IT CAN LOOK LIKE
A December claim and a February payment
Illustrative scenario
A concreting subcontractor lodges a large claim on 20 December. With the shutdown, the payment clock does not restart until 11 January, so the money may not arrive until February. Holiday pay and supplier accounts are due before then. The owner talks through a short facility in November, so the break is planned rather than a scramble. Illustrative example only, not a real client. Every business is assessed on its own circumstances and lender criteria.
QUESTIONS
Common questions
Why does a December claim take so long to be paid?
Under Queensland’s Building Industry Fairness Act, 22 December to 10 January are not business days, so time does not run for payment schedules and payments over the break. A claim lodged just before Christmas can be treated as if the clock starts in January.
When should we sort out funding for the shutdown?
Ideally in November, before your last December claims go in. Lenders need time to assess, and many close or slow down over the break.
What do I need to have ready?
Usually your ABN, recent claims and payment history, your contracts, recent business account statements and ID for the directors. Your broker confirms the list.
Should we lodge claims before the break?
Generally, getting claims in and assessed before the shutdown helps. Check your contract’s reference dates and ask your adviser how the BIF Act applies to you.
Can funding cover the BAS in February?
A short-term facility may help cover a tax payment while claims are slow. If there’s already an ATO debt, we’ll talk through what lenders will consider.
What does it cost and how do you get paid?
Costs depend on the lender, the product and your business. Your broker explains every fee and cost before you decide. We may be paid a commission by the lender or charge a fee, and we tell you before you apply. Subject to lender approval; fees and terms apply.
Tell us what’s going on.
A short call is usually enough to see whether funding could help now, and how it could be set up for what comes next. No obligation. Business purposes only. Subject to lender approval; fees and terms apply.