@jpickup said:
Is there a minimum dollar value for a Sinking Fund? Can it go to $0. I have been told that there is a minimum of 1% of the value of the plan.
In NSW the requirement to do a forward plan at least every 5 years should establish the minimum amount needed to undertake the maintenance required.
Refer STRATA SCHEMES MANAGEMENT ACT 1996 – SECT 75A. Wherein legislation was passed to ‘phase in’ mandatory 10-year sinking fund plans beginning from July, 2006 for all NSW Strata Schemes. Essentially all NSW Owners Corporations now have to have 10-year sinking fund plans done for their Strata Schemes in an effort to eliminate the problems of ‘insufficient long term capital works funding’ .