Category: Faqs

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What is the Strata GST Registration Date?

What is the Strata GST Registration Date?

From what date do you register a strata company for GST? Is it the start of a tax year, the previous year end, the next levy issue date—or something else entirely? This article explains the correct date and the logic

Containers For Change - Tax Implications

Containers For Change - Tax Implications

With many strata buildings considering a container deposit scheme to encourage recycling and generate extra income, it’s important to understand the GST and income tax implications before implementing the initiative.

Income Tax Recording - Best Practice

Income Tax Recording - Best Practice

Accrual based accounting (recording income and expenses based on when they're incurred rather than when paid) is the accepted best practice in strata.. but it can cause a headache when it comes to income tax.

Reduced Tax on Laundry Income

Reduced Tax on Laundry Income

There exists a little known nuance in the ATO's Tax Ruling 2015/3 that can greatly reduce the tax payable by strata companies operating a pay per use laundry facility for their residents.