Procedure for strata plan re income tax returns

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  • 28/07/2016 at 7:54 am #10557 Reply | Quote
    Dudley
    Flatchatter

      Good Morning All,

      Our AGM is coming up and in the proposed budget is a charge for income tax preparation – yet again.

      The charge for income tax preparation is an issue that is constantly discussed and resolved each year. Our strata plan’s only income are strata levies – thus IT 2505 or whatever the current ruling/requirement is, exempts us from the need to submit a tax return. Thus we do not need to submit a return. In the past we have been successful in obtaining a refund of all tax preparation charges paid, due to advice obtained in this forum. 

      This year we have been advised, when the charge was again questioned, that it is the responsibility of the owners to apply to the ATO for an exemption.

      Is this correct? As we have had previous charges returned I cannot imagine that our strata manage has been generous enough to refund all previous payments from their own pocket.

      Any advice would be appreciated.

      Regards,

      Dudley

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    Reply To: Reply #25167 in Procedure for strata plan re income tax returns
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