Sinking Fund Forecasts

On 1 May 2006 an amendment was made to section 75A of the Strata Schemes Management Act 1996, which now states that all new strata schemes established from 7 February 2005 are required to prepare a 10-year sinking fund plan.

The effect on older strata schemes stemming from the May 2006 Regulation is that schemes will be gradually brought within the 10-year planning obligations according to its strata plan number. By July 2009, all schemes (except those 2-lot schemes that are not required to establish a sinking fund) will require a sinking fund forecast to be established.
The aim of our Sinking Fund Forecast service is to provide a forecast, which will avoid most of those unexpected levies, by distributing the cost evenly over all owners and eliminating the unfair burden on the current owners. 

A Sinking Fund Forecast prepared by Walton Smith Consultants will:

  • Better manage cash flow
  • Ensure that sufficient money is allocated to cover maintenance and capital costs.
  • Identify existing defect or maintenance issues
  • Forecast likely maintenance and capital works cost over a ten year period
  • Identify likely defects before they occur
  • Retain or improve re-sale values
  • Help in maintaining the good condition of buildings

Latest From the Blog...

    Author Pic

    Walton Smith Consultants - Pleased to be apart of the New Clancy Jaguar and Land Rover Project!

    Posted by

    We are pleased to see the completion of the Clancy Jaguar and Land Rover project in Wheelers Lane, Dubbo. Walton Smith Consultants were the quantity surveyor for the project, involved in initial reports for the bank, progress payment reports throughout the project and the preparation of a tax depreciation schedules on completion, thus allowing for the maximum tax deductions for the dealership. Clancy Jaguar and Land Rover now has a modern new showroom and office, with aluminium cladding and glazed exterior finish. There is an undercover display area and the project was completed in approximately 6 months. Walton Smith Consultants is pleased to be part of the team to bring this project in regional New South Wales to completion.

    Author Pic

    Another Successful Regional Project For Walton Smith Consultants, Quantity Surveyors

    Posted by

    Quantity surveying is an important part of the building construction process. Walton Smith Consultants  was invited to attended the Grand Opening of another regional project in Dubbo, where they were engaged as Quantity Surveyors to manage the project from the beginning, through the construction phase and until completion. Walton Smith Consultants prepared the initial reports for the bank and progress payment reports throughout the construction phase.
    Midwest Foods, a local wholesale food distributor, had their Grand Opening a month ago in their new larger complex, at Capital Drive in Blue Ridge Business Park. Several hundred people attended over the course of the day and it was a huge success. Walton Smith Consultants also produced a tax depreciation schedule allowing  for maximum tax deduction for Midwest Foods.
    Author Pic

    Walton Smith Consultants - Winners of a silver Rhino Business Award.

    Posted by

       


    Walton Smith consultants were thrilled to receive a silver "Rhino Award" in the category of ‘Excellence in Work, Health & Safety.’ at Dubbo’s annual business awards.

    The "Rhino Awards" are Dubbo’s annual prestigious business awards which are presented by The Dubbo Chamber of Commerce and Industry Inc. These are presented each year to highlight the city's most outstanding businesses.

    The Rhino, which is used as the logo, reflects both the fact that Dubbo is home to the Taronga Western Plains Zoo, and symbolises the strength of our local business community. The presentation night is one of the city's most prestigious annual events, a time when the city's business community honours its most outstanding performers in a number of categories.

    This particular award is awarded to a business that demonstrates outstanding commitment to Work Health Safety in the workplace.

    Our fabulous building inspector Andrew takes pride in his work when carrying out a Pre-Purchase Inspection and is always going that step further for our clients. You might spot him travelling all around regional NSW including towns such as Dubbo, Orange, Molong, Parkes, Forbes, Canowindra, Nyngan, Coonamble, Coonabarabran, Mudgee to name a few.

    This award reinforces our company’s commitment in excellence in all work we do.


Members of the Australian Institute of Quantity Surveyors (AIQS) and the Master Builders Association (MBA)



Quick Contact:

Captcha Image