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  • #9640 Reply | Quote
    daphne diaphanous
    Flatchatter

      Dear gurus, we have discovered that our SM’s trust account has a separate ABN & address to that of the SM company. Is this normal or usual?

    Viewing 4 replies - 1 through 4 (of 4 total)
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    • #22113 Reply
      Whale
      Flatchatter

        Daphne – are you sure that it’s not the ABN attached to your Strata Plan’s Account, because that would be different from that used by your Strata Manager?

        In any event, I don’t regard your discovery as unusual, as one ABN my attach to the Strata Company’s business name and the other to a trading name or to the individual Licensee who may be required to hold and operate a trust account.

        If you want to check “ownership” of the ABNs and the relationship between them, then search HERE.

        #22110 Reply
        daphne diaphanous
        Flatchatter
        Chat-starter

          Thank you Whale. Our SP accounts only show the SM’s ABN. My initial post had resulted from our search of ASIC’s website.

          #18270 Reply
          Whale
          Flatchatter

            Daphne – now I’m confused …..

            Your Owners Corporation’s financial accounts should show its ABN, but back to your original post, as I said, so far as I’m aware your Strata Manager’s trust account could show the ABN that’s registered to their Business, or their Trading Name, or their name (as Licensee).

            Perhaps there’s an Accountant out there who can clarify, but in the meantime, you’ve expressed concerns about your O/C’s financial accounts in other posts, so what do you suspect is awry this time?

            #18269 Reply
            daphne diaphanous
            Flatchatter
            Chat-starter

              Well Whale, we checked the ABNs out of curiosity, since our SM is also a builder/developer. It would be interesting to know how much of our maintenance is done by his building company’s contractors. We know for a fact that we pay over the top for a fair few things, including insurance. Our formal search is about to begin (we couldn’t do it earlier in the year, because our darling little pet got sick & was finally put down last month).

            Viewing 4 replies - 1 through 4 (of 4 total)
            Reply To: Strata manager’s trust account
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