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Good evening All,
Many thanks for those who responded to my queries.
The replies have alerted me to issues which I had not considered – especially the tax situation. I may be simplifying the issue but as I understand it if the strata plan receives $100 in interest, it has a tax liability of $30.
Then there is the question who prepares the return and who pays for the preparation? Last but not least how is the income amount, which is to be added to the taxable income of the owners communicated?
Re: raising these issues at the AGM.
Should I communicate my wish to discuss these issues and request that they be listed on the agenda or just raise them when the motion requesting that the financial statement be approved is raised?
I am, as I’m sure is obvious a “babe in the woods” in the strata world and all advice and suggestions are gratefully received.