Web5 Jul 2024 · Capital fund levies are collected for the capital works fund of the strata scheme, previously known as a sinking fund, which enables an owners’ corporation to pay for repairs and maintenance. A capital works fund is used for capital expenditure and non-recurrent items, such as: Renewing or replacing common property fittings, such as lobby carpet. WebMichael Ferrier from EYEON Property Inspections joined Nikki Jovicic from LookUpStrata …
Goods and Services Tax - REIWA
So why do we care whether you have to charge GST on strata levies? Well, it’s going to have a number of practical effects: 1. First, your strata levies are going to go up by 10% – the amount of the GST; 2. Second, your owners corporation will need a system in place to issue tax invoices to the owners who are paying the … See more Most people in Australia are familiar with GST as a concept. But before we leap in, it’s worth just doing a quick GST 101 explanation in case you’re new to the idea. Here’s how GST … See more Let’s work through the process, knowing what we know. The first question is whether the owners corporation needs to register for GST. Does an owners corporation carry on an enterprise? Well, it maintains and repairs … See more In practical terms, will it make any real difference if there is GST on strata levies? There are going to be two main practical impacts: Firstly, the … See more WebIn this case the outgoings expenses are included in the rental amountand accordingly the rental will typically be higher than that for leases where the rental and outgoings are stated separately. For example, the market rental is $100/sqm p/a plus GST and outgoing expenses are estimated to be $15/sqm p/a. The gross rental will be displayed as ... eric adams new york city police academy
What Do Retail Tenants Need to Know About Outgoings?
Webdescribed as a unit, villa unit, town house or something similar. designed for retirees who can live independently within a retirement village. The unit can have one or more bedrooms and can be: in a multi-storey building or complex. a terrace house. semi-detached (for example, a duplex) stand-alone or fully detached. Web6 Jan 2024 · As an apartment owner, you must generally pay up to three types of strata levies: The administrative fund budget The sinking fund budget A special levy, if something breaks down or is damaged and insurance does not cover the damage This article gives an introduction to these three strata levies and when they are due. The Administrative Fund … Web16 May 2016 · If you are a body corporate, for GST purposes, you are carrying on an … find my foundation shade uk