Strata title bodies corporate are treated as public companies under the tax law and are required to lodge a tax return for any year in which income is earned. For a full explanation of the tax treatment of Strata title bodies corporate refer to Taxation Ruling IT 2505, Taxation Determinations TD 93/7, TD 93/73 and TD 96/22.
If the strata title body corporate has:
- net capital gains
- losses brought forward from earlier income years claimed as a deduction
- overseas transactions or interests and/ or
- needs to make an interposed entity election
use the Company tax return 2002. You cannot complete your tax return using the Strata title body corporate tax return 2002.