The IT 2505 tax ruling is the necessary one to read. However, it is rather old and strata legislation has changed in various places. A key difference point to note is whether common property is held by the OC as 'agent' for the owners or as 'trustee' for the owners. At the time IT2505 was written the ACT strata title legislation had the word 'trustee' but more recently has had 'agent'. The reason this matters is that non-mutual income derived from property held as trustee is taxed at the corporate rate in the hands of the OC, IE simple and easy. Non-mutual income derived from common property held as agent has to be divided up in proportion to unit entitlements and each owner has to declare their portion on their private tax returns.
Crucially, the ATO gave our OC a ruling that we could resolve to purchase solar electric equipment that would attract a feed-in tariff to be held as trustee for the owners, even though common property is generally held as agent under the ACT Unit Titles Act. The result was that solar feed-in income is worth doing for our OC because all benefit equally in proportion to unit entitlements and there is little administrative burden. Held as agent we would have had to issue a statement to each of over 100 owners who no doubt differ in their tax circumstances and would benefit to differing degrees. This could well have been enough to make the proposal unworkable.
The ruling was provided to the review of the ACT Unit Titles legislation which has just been amended to now explicitly allow OCs to purchase sustainability equipment to be held by the OC as trustee for the owners which greatly eases the administrative burden and forms part of a suite of amendments to make it easier for OCs to install sustainability infrastructure.