Village budgets and financial statements

Village financials

This document provides both background information and a practical guide to those things, required by the Retirement Villages Act 1999, for village budgets and financial statements. This document is currently under review.

Financial statements and village budgets timelines

This document will assist residents committees in managing their financial role regarding financial statements and village budgets provided by the scheme operator.  Read more

Guidelines – Classification of Expenditure

This booklet provides guidelines to assist the classification of expenditure in the general services fund, the maintenance reserve fund and the capital replacement fund.  Guidelines (PDF)

 How GST applies to retirement villages

How GST is applied to supplies made by a retirement village operator depends on the type of living arrangement offered or who is operating it (for example, a charity or a commercial operator).  The ATO website provides the following information – GST and property/Retirement villages.  Read more