Organise your sinking fund and comply with amended legislation
On 1 May 2006, an amendment was made to section 75A of the Strata Schemes Management Act 1996 (see www.fairtrading.nsw.gov.au) , which now states that all Owners Corporations are required to prepare a 10-year sinking fund plan that must be completed and reviewed at specified intervals.
Why Washington Brown?
We have set up a special division dedicated to helping Strata Managers and Owners’ Corporations comply with the legislative changes.
More than 25 years of experience has given us a comprehensive historical database that accurately forecasts future expenditure, based on the specifics of your property.
A good plan will help to:
- Better manage cash flow
- Reassure potential buyers that the property has no nasty surprises
- Potentially improve the property resale value
- Ensure levies are fully tax deductible* in the year that they’re incurred
- Spot trouble areas ahead of time
FOR MORE INFORMATION OR TO REQUEST A FREE DISCUSSION PAPER
*For investment properties
Special offer – SAVE 20%
Get a Building Replacement Insurance Report at the same time as a 10-year Sinking Fund plan, and you’ll save 20% on the combined fee. The replacement insurance report includes all costs, from demolition and building replacement, to architect and consultant fees.
Disclaimer: The report does not cover costs associated with structural defects or by accidental damage or general administration costs like gardening, cleaning, pest control, minor plumbing works, pool consumables and capital improvements.
