Important changes to the Commercial Building Disclosure Program
Following a comprehensive review of the Commercial Building Disclosure (CBD) Program earlier this year, and public consultation on the proposed changes to the program, the Australian Government announced this week that the mandatory disclosure threshold on commercial office buildings will reduce from 2000 square metres to 1000 square metres starting 1st July 2017.
Importantly, this impending expansion of the regulatory requirements of the CBD program to include additional commercial office buildings, also comes with the announcement of reducing the regulatory requirements for the Tenancy Lighting Assessment (TLA) component by increasing the TLA validity period from 1 to 5 years from 1st September 2016.
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Capex Planning Makes Property More Valuable
If you’re an Owner or Manager of commercial property you may well now be planning budgets and setting targets for the year ahead and beyond.
There are a number of questions to be answered:
- What needs to be repaired, replaced or improved?
- What are the priorities?
- When does it need to be done?
- What could safely be deferred?
- How much will it cost?
- What will be the return?
Napier & Blakeley can help answer all of these questions and more. Our expertise extends beyond Services Engineers, Building Consultants and Quantity Surveyors who have current cost information to produce cost estimates and property tax depreciation reporting aligned to the commercial goals of your business and intentions for the property.
Spending money is not all bad news:
- Needs can be prioritised.
- Cash flow can be improved through capital allowances and tax depreciation.
- Valuations can be improved. Continue reading
