Why strata financials aren’t like corporate reports (and don’t need to be)

We're being asked for an ACN (Australian Company Number) for our strata company.  Where do we find it?

Not all strata levies are deductible for tax purposes.

Looking to save time when signing bulk tax returns / activity statements for your managements?

The vast majority of strata managers we work with are very aware of when a strata company needs to prepare a tax return and what is required to be included (ie: interest income from banks, status certificate income, laundry receipts

Entities that are considered 'non-profit' can be exempt from paying income tax in Australia if they meet certain elegibility criteria set by tax legislation.  

Honorariums are a kind and practical way to reward the hard working volunteers that contribute so much to a strata company.  Keep in mind the potential tax implications though.

Single Touch Payroll is a mandatory change in the way employers report payroll to the ATO.  It affects all employers and our FAQ article gives strata managers all of the