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An owners corporation is required to keep records under the Owners Corporation Act 2006. Records are also required under other laws, such as Commonwealth taxation laws and essential safety measures in the Building Act 1993.

An owners corporation must keep voting papers and ballots for 12 months after a vote or ballot is taken. Proxies must be kept for 12 months after they expire or are revoked. An owners corporation must keep all other documents for at least seven years.

The Owners Corporation Act 2006 requires owners corporations to keep the following records:

  • The full name and address of each lot owner
  • A consolidated copy of the rules
  • Minutes of meetings
  • Copies of resolutions
  • Records of the results of ballots
  • Proxies
  • Voting papers or ballots
  • Correspondence
  • Accounting records
  • Records of assets and liabilities
  • Financial statements
  • Income tax returns and goods and services tax records (if any) of the owners corporation
  • Insurance policies
  • Maintenance plans (if applicable)
  • Notice and orders served on the owners corporation by a court or tribunal
  • Notices served by the owners corporation
  • Contracts and agreements entered into by the owners corporation
  • Leases and licences entered into by the owners corporation

 

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