@kiwipaul said:
No minimum sinking fund legally required in any state as far as I know and you don’t even need a sinking fund if you don’t want to.
There’s no minimum amount required but you DO need to have a sinking fund under section 69 of the Act
69. Sinking fund to be established
(1) An owners corporation must establish a sinking fund.
It couldn’t be clearer than that (although it doesn’t apply to two-unit schemes).
On the question of a building with an empty fund, unless it had just been used to undertake renovations and repairs, as a prospective buyer I would run 1.6km from any block that didn’t have a reasonable fund (depending on age etc) because that tells me the people running the building are short-sighted morons who are planning to sell as soon as the they get a sniff of any problems.