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.
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