[Glynes Maxfield]

Hi all,
Hope you are keeping well.

In the Reval list the VG have provided separate PID’s and valuations for each of the ‘properties’ in a company title.
Q. Should I be picking up each valuation separately now rather than treating them similar to a strata, as well as recording each individual PID.?
In effect each ‘property’ is now it’s own entity??

Thanks

Glynes

[Michael Cherry]

Hi Glynes,

The above has happened the last few G/Vals for us. The VG issued value complies with s547 LGA as it is calculated on the number of shares in the company owned by the ratepayer. WE don’t treat them as Strata unit as each company title unit has its own PID in the G/Val file from the VG and that PID exists in our rates system (just like a normal stand-alone property). It makes no difference from a rates payable perspective (complies with s495A and s547) how you treat them but if you treat them as a strata this will require manual intervention.

Hope this helps

Mick

[Glynes Maxfield]

Thanks Michael,
Appreciate the comments.
Will give consideration as to whether I leave them or implement them separately.
Regards
Glynes

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