Across the nation, state body corporate and community management regulations require a sinking fund (or reserve or capital works fund) budget to be prepared by an appropriately qualified professional. The regulations differ by state and are linked below;
Queensland – Sinking Fund Forecast – Body Corporate and Community Management Act 2008
New South Wales – Capital Works Fund Plan – Strata Schemes Act 2006 (formerly known as a Sinking Fund)
Victoria – Maintenance Plans - Owners Corporations Act 2006
South Australia – Sinking Fund Budgets - Statutes Amendment (Community and Strata Titles) Act 2012
Western Australia – Maintenance Plans - Strata Titles Act (General) Regulations 2019
The team at Acumentis understand these regulations and are up to date with legislative changes. Our team of qualified professionals can assist in preparing a fund forecast and budget for your strata property.