This article about the new annual reporting rules for NSW strata schemes has been provided by Adrian Mueller, JS Mueller & Co Lawyers.
New Annual Reporting Rules
On Friday 17 December 2021, the Strata Schemes Management Amendment (Information) Regulation 2021 (the Information Regulation) was published establishing a new annual reporting requirement for strata schemes in NSW.
What does the new annual reporting requirement change mean for NSW strata?
Commencing June 2022, all NSW owners corporations will be required to:
- Provide key details about their scheme, including building, safety and management information
- Help cover the cost of administration and enforcement of the scheme by payment of a lodgement fee of $3 per lot with their annual report
- Submit their first report within 3 months from 30 June 2022 to 30 September 2022
- Upload their report online through the Strata Hub
Further information can be found here:
- Strata Schemes Management Amendment (Information) Regulation 2021 (the Information Regulation) on the NSW Legislation website
- A full list of the information required for the report, and recommendations for where it can be sourced, is available here
- Guidance on the requirements set out in the Information Regulation and on how to submit the report will be provided to strata schemes in early 2022
- For any further assistance you may also contact JS Mueller & Co Lawyers here
This post appears in Strata News #537.
Disclaimer: The information contained in this article is provided for your personal information only. It is not meant to be legal or professional advice nor should it be used as a substitute for such advice. You should seek legal advice for your specific circumstances before relying on any information herein. Contact JS Mueller & Co for any required legal assistance.
JS Mueller & Co Lawyers has been servicing the strata industry across metropolitan and regional NSW for over 40 years. We are a specialist firm of strata lawyers with in depth and unmatched experience in, and comprehensive knowledge of strata law and levy collection.
Have a question about the new annual reporting rules for NSW strata schemes or something to add to the article? Leave a comment below.
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This article has been republished with permission from the author and first appeared on the JS Mueller & Co Lawyers website.
Looking for strata information concerning your state? For state-specific strata information, take a look here.
Are you not sure about some of the strata terms used in this article? Take a look at our NSW Strata Glossary to help with your understanding.