Popular Plants for Common Gardens

|

Well-maintained common property around your strata community not only improves your property visually, but can also impact on your property’s values.  Common property which can be greatly and easily improved includes all aspects of the gardening and grounds such as lawns, access roadways and swimming

Read more

Important Changes to Terrorism Insurance Scheme

|

SSKB recently received notification regarding changes by the Australian Reinsurance Pool Corporation (ARPC) regarding an extension to the definition of a commercial building and this will affect some strata communities from 1 July 2017. The following is an excerpt from Insurance Aid General Brokers (IAGB),

Read more

Non-Mutual Income Tax

|

Last year, the Australian Tax Office replaced the old strata industry ruling which has been in force for nearly three decades.  The new ruling clarifies the taxation requirements relating to non-mutual income – i.e income from non- owners. The new ruling is particularly important to

Read more

Fees In Arrears

|

Lot owner’s contributions are made by all individual owners in a community scheme to cover body corporate/owners corporation expenses.  The annual levies determining how much each lot owner will pay is decided every year at the Annual General Meeting. The body corporate/owners corporation must, by

Read more

Annual Audits – A Strata Community Health Check

|

Has your community had a financial statement audit recently? An audit is a health check for the community’s finances. Strata committees have a responsibility to all owners to ensure their community complies with the law and follows best practice. This can include having a financial

Read more

Strata News Weekly – 9 June 2017

|

Hoons turn Gold Coast’s most prestigious beachfront suburbs into drag strips after dusk HOONS on modified motorcycles or in sports cars are turning the Gold Coast’s most prestige beachfront suburbs into drag strip after dusk. Business leader Max Christmas revealed he has written to the

Read more

Strata News Weekly – 2 June 2017

|

Parking Space Stoush Ends In Court Last month in the Supreme Court, an owners’ corporation (OC) in South Yarra unsuccessfully attempted to join two firms of solicitors that acted for lot owners in the purchase of their units, in an effort to see them held

Read more

Strata News Weekly Round Up – 26 May, 2017

|

We’re starting a new feature – a weekly wrap up of strata news in the media: Week ending 26 May, 2017 Woman wins four-year legal battle over gap in sliding doors When strata owner Dr Anne Davis noticed rain blowing through a gap in the

Read more

Dealing With Arrears

|

Strata living is all about sharing – sharing common property facilities as well as sharing physical infrastructure. Another thing which is shared is the associated costs in keeping the scheme compliant with its legal and statutory requirements, and ensuring the property and facilities are kept

Read more

Australia Post Delivery Issues

|

SSKB shares the frustration of our committee members and lot owners over missing and delayed mail delivery. Since Australia Post changed its terms of service at the end of 2015, we have received feedback from our clients that important information relating to their property has

Read more

Sinking Funds – Queensland

|

A bodies corporate sinking fund is effectively a deposit which exists to allow a body corporate to pay for repairs and maintenance of a building. The money in a sinking fund can be spent on several different things.  Firstly, it can be spent on anticipated

Read more

Maintenance Funds – Victoria

|

An owner’s corporation’s maintenance fund is effectively a deposit which exists to allow an owners corporation to pay for repairs and maintenance of a building, in accordance with the scheme’s maintenance plan. The money in a maintenance fund can be spent on several different things. 

Read more

Capital Works Funds – NSW

|

An owners corporation’s capital works fund is effectively a deposit which exists to allow an OC to pay for repairs and maintenance of a building. The money in a capital works fund can be spent on several different things.  Firstly, it can be spent on

Read more

Moving Into A Strata Community

|

Moving into a strata community opens the door to a whole new style of living which is quite different to owning or renting a stand-alone residence. The main difference is by-laws, or rules, which govern each strata complex. By-laws/rules are set by all owners and

Read more

Do I Need Permission To Renovate? Qld

|

You’ve been saving up, and you’ve decided renovating or improving your apartment sounds like a good idea.  You know what you want to do, how much it will cost you, and approximately how long it will take before you will be living in recently renovated

Read more