3 Aug 2018

Builders breaking law by not using trusts - survey

From Morning Report, 7:48 am on 3 August 2018

A new survey suggests a quarter of builders are breaking the law by not holding money in trust for subcontractors. This comes after the painful failures of two building firms this week. It's reported the largest of those, Ebert Construction, has at least $3.5 million of money held back - or retentions as they are known. But James MacQueen of chartered accountants BDO says their survey shows others are simply ignoring the new law on keeping this money in trust. He talks to Alex Perrottet.