Do I need to do anything upon project completion?
Section 26 of the CITF Act requires a project owner to notify the Board of the actual value of the building or construction work, no later than three months after project completion.
- If the total value of the works has increased by $50,000 or more the project owner will need to pay an additional levy amount.
- If the value of the works has decreased by $50,000 or more the project owner may be entitled to a refund.
CITB automatically sends reminders to project owners to assess the final value of projects, via email 60 days after the project completion date. CITB refers to this as the ‘Statement of Completion’ (SOC) process.