ABS Construction Cost Index

ABS Construction Cost Index

The ABS Construction Cost Index is proving useful to our members who wish to test the annual uplifts offered by strata insurers for the intervening years between the compulsory valuations. The bad news is the growing gap between the insurers’ inflated recommendations...
Construction Costs: Your Quarterly Update – September 2018

Construction Costs: Your Quarterly Update – September 2018

Each year, your body corporate must insure the whole building, including the owners’ lots, for the full replacement cost. An independent valuation must be obtained stating the full replacement cost of the building, at least every five years. The question is, how do you determine the ‘full replacement cost’ in the intervening years? It is

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Debt Recovery: The Queensland Court of Appeal Speaks

Debt Recovery: The Queensland Court of Appeal Speaks

Last year, a  District Court judge ruled that the usual 6-year limitation period under s.10 of the Limitation of Actions Act 1974 (Qld) does not apply in the face of the specific “2-years and 2-month” rule set out in s.145(2) of the Standard Module.  (see also s.143(2) AM) Refer:  BC for Mount Saint John Industrial

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Sinking Fund Contingencies – Allowed or Not?

Sinking Fund Contingencies – Allowed or Not?

Newsflash #36 and The Duporth Riverside [2017] QBCCMCmr 177 The UOAQ published Newsflash #36 in February 2018, alerting members to a 2017 adjudication order that a body corporate’s annual Sinking Fund Budget cannot include provision for unexplained contingencies. Put simply, a budget is not a lolly jar. It can only “…include specific items of expected expenditure

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