Tax Time Guidelines for Body Corporates and Property Owners in Queensland
Tax Time Guidelines for Queensland Body Corporates and Property Owners Tax season is here, and Queensland body corporates and property owners must prepare to maximize deductions and stay compliant. Strata Umbrella Property Risk Management guides you through insurance valuations, sinking fund forecasts, and depreciation schedules for effective strata property management. Here’s your tax time checklist.…
Read MoreWhat Queensland Strata Owners Need to Know: Evacuation Diagram vs. Fire & Emergency Evacuation Plan
As a strata property owner or body corporate committee member in Queensland, ensuring fire safety is a legal and moral responsibility. Two critical components often cause confusion: evacuation diagrams and fire & emergency evacuation plans. Many strata stakeholders mistakenly think they’re the same or that one covers the other. In this guide, Strata Umbrella Property Risk Management explains…
Read MoreThe Importance of an Accurate Insurance Valuation
When it comes to insuring your strata titled property, or any property for that matter, coming up with the correct figure can seem daunting. Many people think that the construction cost is the best figure to use when insuring a property. However, the construction cost will not provide an appropriate value as it does not include all…
Read MoreMaking Your Investment Work Harder for You – Understanding Tax Depreciation Schedules
The vast majority of strata investment property owners do not take advantage of tax depreciation schedules to reduce their taxable income. A depreciation schedule is a report that outlines all available tax depreciation deductions for a residential investment property or commercial building. Most properties, new and old, have depreciation available. Land doesn’t wear out, but…
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