Abode Strata

<p>Abode Strata</p>

Abode Strata has grown since 2015 from a small Australian owned and operated family business to being known as a professional, respected "results-driven" Strata Management business. We now have a reputation as Strata specialists, innovators, creating solutions to modern-day strata communities, resolving major maintenance issues and bringing policy, procedure and governance into the property. We strive to create peaceful well managed harmonious Strata communities and our passion is to empower and educate our owners to achieve remarkable results.

ABN and TFN

Given that strata companies regularly open term deposits and require tax returns, having both a TFN and an ABN already in place invariably saves time and money. 

Abode Strata arrange for registration of both a TFN and an ABN for any of our clients that do not already have them in place. In the event a strata company has a misplaced TFN/ABN, we engage our accounting partners to source the missing number/s on their behalf. 

One-off cost of $100+GST upon commencement of management covers:

  • TFN & ABN joint registration; or
  • Updating of ATO records (bank details, contact details etc) for existing TFN/ABN.

 

GST and BAS

The costs for lodgement of GST forms with the ATO are as follows:

  • Strata BAS: $250+GST per lodgement* 
  • Strata GST: registration/deregistration: $75+GST 

*Most strata companies are required to register for GST on a quarterly basis, meaning that four BAS are required each year. Those that have budgeted levies of less than $150,000 may register on an annual basis and therefore only require one BAS per year.

Income Tax

Abode Strata proactively manage your strata company’s tax obligations and only engage qualified professionals with detailed knowledge of strata.

The costs for lodgement of documents are as follows:

    • Strata tax returns: $250+GST
    • Return Not Necessary (RNN) submissions: $0+GST* 

*Cost is covered by Abode Strata.

 

Common Property Income

Abode Strata proactively manage your strata company’s obligations and only engage qualified professionals with detailed knowledge of strata.

The costs for preparation of documents are as follows:

  • Calculation of Income & Deductions for each owner where a scheme earns leasing income from it's common property: $250+GST per calculation*

 

*If a strata company only requires tax year end (ie: 30 June) figures then only one calculation is required per annum.  Where a strata company also requires figures for their separate strata year end, then two calculations are carried out per annum.

Public Officer

There are two options available for your strata company in terms of appointing a public officer:

  1. Abode Strata is able to provide an individual to act as public officer on behalf of your strata company.  This individual will be required to sign off on taxation documents on behalf of the strata company; or
  2. The strata council appoints an individual who meets the criteria and is prepared to take on the liabilities and risks of the position on behalf of the strata company.

Note - Abode Strata charge no additional fees for either option.

 

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© 2020 Ascend Business Accountants. The information contained within this document is for the exclusive use of strata management businesses who are current, financial subscribers to the Ascend Business Accountants Strata Manager Partner Program to educate their clients only. Use of this document and/or the content contained within by any other entity or for any other purpose is prohibited under copyright law. Pricing is subject to change.