Institute of Strata Title Management

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Trust Account Audits

Every licensee, corporations and individuals, must lodge either a trust account audit or statutory declaration by September 30 with the Commissioner for Fair Trading if they received or held money in a trust account during the financial year.

Even if you have not received or held money in your trust account, you still need to submit a statutory declaration to declare this.

Failure to lodge either an audit or statutory declaration by the due date will lead to disqualification and possible prosecution.

Audit documentation is available on the OFT website. www.oft.nsw.gov.au