Strata property owners and strata management companies will be affected by ATO ruling TR 2015/3.

In essence there are some amounts of income that will need to be allocated to each strata unit owner as their share of income of the common property of the building.  The ones we've seen so far are all under $20, per lot, so it seems to be a bit of a storm in a tea cup. Fortunately, all the calculations will be completed by your strata company. If you have a commercial or residential unit then you'll receive the details by letter. Just send it through to us with your normal rental property information and we'll include it in your tax return.