› Flat Chat Strata Forum › Finance, budgeting and loans › Strata Plan Monies in Investment Account › Current Page
03/09/2021 at 12:15 am
#58183
I’m happy to go with what strata lawyers and tax expert Tony Cordato said in that article:
“Apartment owners are ‘mutual owners’ of the strata title body and own the common property mutually. As a result, strata levies are not treated as assessable income of the strata title body for income tax purposes.
“However, income from common property is treated, not as mutual income of the strata title body, but as assessable income of the individual owners.”