Owner preference - Income & Expenditure Statements
Regarding the Income and Expenditure Statement, the owner listed the items required by the ATO. They would prefer to not have the statement show information that would come from another party (ie bank/broker).
Example - Total capital allowances & Total legal fees
They suggest that PT produce subheadings that align with the ATO fields and group the expenses into the subheadings. For example;
Total Repairs
- Air Conditioning
- Fire Protection
- General Repairs and Maintenance
Total Agent Fees
- Income and Expenditure Fee
- Residential Management Fee
- Administration Fee
Total Body Corporate Fees
- Strata - Admin / Sinking Levies
11
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Nandun Wickremeratne
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