Records show a major Gold Coast builder which has gone into liquidation was only allowed to make up to $30 million revenue a year. So how was it able to log $52m of work?
Kathleen Skene Follow 4 min readJune 6, 2022 - 7:30AM Gold Coast Bulletin
Queensland’s building watchdog will not say whether Pivotal Homes raised any financial red flags in the lead up to its $3.6 million collapse.
Pivotal’s licence was cancelled the day after it went into liquidation, with Queensland Building and Construction Commission records showing it had not been subject to any previous suspension or cancellation.
The company’s licence history shows it had a maximum revenue limit of $30m but logged 211 residential construction jobs worth $56.7m in 2020-21 and 105 jobs worth $30.5m in the current financial year.
Despite the apparent disparity, the QBCC said the amount of work recorded on the licence was not an indication of how much revenue the builder had earned.
"Ok QBCC, then why have a record of their residential construction turnover on a builders licence?
Add the last 3 years together and its 22% over their allowable turnover.
Add the last 2 years or the previous 2 years and its 30% over the allowable turnover.
Either way, the QBCC are not monitoring these stats which in this case is more than double, even treble the allowable excess of 10%".