Ooops – sorry everyone!
I just checked our past Minutes and thankfully I did get it the right way around when, based on Peter’s past advice, our O/C resolved in 2009 not to create a “relationship” with the ATO by holding the solar array as “agent” for its Owners and to thereby maintain its position of not having any non-mutual income.
The O/C’s “total solar contribution” (gross) is shown on each quarterly electricity account, so I can easily show an annual amount per unit of entitlement in a note to each year’s Income & Expenditure Statement, explain how each Owner can calculate their share from the Levy Schedule to the Agenda, and advise that the resultant amount is regarded as Owners’ income for taxation purposes.
Good to see that you’re there Peter – the word “solar” always does it!!