July 2025

Welcome to our Training Newsletter for July. 

As the tax year draws to a close, the Training Team will be pausing webinars during July, but you can still access all of June’s webinar recordings via the links below. This is the perfect time to review your EOFY strata tax obligations.

Look at what’s coming soon in StrataMax by reviewing the Upcoming Features section showcasing a range of new features and enhancements currently in development. In line with upcoming legislative changes, we’re also updating certificate templates to ensure continued compliance across your schemes. If your State is affected, we highly recommend reviewing the related article for more details.

StrataMax Webinar Videos 

All of our previous webinars are available for viewing at your convenience on our StrataMax Videos page, so don't forget to check out those if you missed anything! 

Upcoming Features

Review our current projects that we are working on to deliver soon. These articles are in the “New” section of StrataMax Online Help and are continuously updated with exciting new and updated features.

• Inspections is the first of the StrataMax Registers to receive a fresh update and was part of update v5.6.131. For more information see the new Inspections article.
• The new Levy Management refresh is currently being previewed by a few clients so look out for this release coming soon.
• The new Task Management screen is due to be released in July, so check out the recording of last month's webinar where you can learn about all its new features.

Did You Know...?

 You can import documents into DocMax!

If a new building has been acquired from another StrataMax portfolio, but is not being transferred, the documents received in electronic format can be imported into DocMax using the Administrator screen in DocMax.

Check out the DocMax Import article for steps on completing this process.

Legislative Updates

QLD

The Property Law Act changes will take effect on 1^st of August. The current Disclosure Statement will no longer be required. Information Certificates will be updated for the BCCM, BUGTA Acts, and 2 Lot Schemes. See the article on QLD Certificate Changes for all the details.

ACT

The Unit Titles Management Act 2011 requires landlords to provide a rental certificate to tenants before a new or renewed lease for a unit or townhouse within a unit title complex in ACT. To assist with these requirements the new Rental Certificate has been included in v5.6.133. Please see the new ACT Rental Certificate article for more details.

NSW

We are awaiting the date for the levy notice changes before adding the required wording to StrataMax templates. Please refer to the following web page for more information: https://www.nsw.gov.au/housing-and-construction/strata/serving-on-a-committee/levies/strata-levy-notices.

Income Tax 2025

• Ensure that all investment accounts have interest allocated and updated to 30/06/2025 based on actual account balances.
  • StrataCash Term Deposits should be all set up and work like normal operating accounts. Check Process Bank Statements and ensure that all accounts are set up, as this is also CRITICAL for the delivery of automatic statements to DocMax.
  • Other Investment Accounts is for accounts that contain data in a supported format and also need to be fully processed and reconciled to the end of the tax year.
  • Manual entries is for when bank data is not available to download, and should be set up in Other Investment Accounts in Process Bank Statements to easily add interest and fees that are reflected on the bank statements.
• Review the chart of accounts and ensure all the setup for income tax fields are complete. Use the export function in Account Maintenance or in Search Global Accounts.
  • Non-Mutual Income / Not-Included Income.
  • Fully Claimable or Partially Claimable expenses.

• Ensure that Tax File Numbers are set up in Building Information to allow the report to finalise in Income Tax.
• Review the Income Tax article.
• Watch the webinar recording from April.
• Complete the income tax reporting for June 2025 and provide them in PDF or Excel format or both, to be used for lodgement.
• As an extra report it is possible to complete the Bank Rec. Summary Report for operating and investment accounts, specifying the date as 30/06/2025, if required.