28Outgoings statements

#### 28 Outgoings statements 28 Outgoings statements > > (1) A retail shop lease is taken to include provision to the following effect— > > > > > (a) The lessor must give the lessee a written statement (an outgoings statement) that details all expenditure by the lessor in each accounting period of the lessor during the term of the lease on account of outgoings to which the lessee is required to contribute. > > > > > (b) If the shop is in a retail shopping centre, the outgoings statement must include a statement of the current gross lettable area of the shopping centre and details of any material change in that gross lettable area during the period to which the outgoings statement relates. > > > > > (b1) If the shop is in a retail shopping centre, the outgoings statement is to include— > > > > > > > (i) a statement of total management fees paid in respect of the centre, broken down into the fees paid towards the administration costs of running the centre and other fees paid to the management company, and > > > > > > > (ii) a statement of total cleaning costs paid by the lessor, broken down into the costs of consumables and other costs, and > > > > > > > (iii) any other particulars prescribed by the regulations. > > > > > (c) The outgoings statement is to be prepared in accordance with relevant principles and disclosure requirements of applicable accounting standards made by the Australian Accounting Standards Board, as in force from time to time. > > > > > (d) The outgoings statement is to be given to the lessee within 3 months after the end of the accounting period to which it relates. > > > > > (e) The outgoings statement is to be accompanied by a report (an auditor’s report) on the statement prepared by a registered company auditor (within the meaning of the [Corporations Act 2001](http://www.legislation.gov.au/) of the Commonwealth). > > > > > (f) The auditor’s report is to include a statement by the auditor as to whether or not the outgoings statement correctly states the expenditure by the lessor during the accounting period concerned in respect of outgoings to which the lessee is required to contribute, and as to whether or not the total amount of estimated outgoings for that period (as shown in the estimate of outgoings given to the lessee) exceeded the total actual expenditure by the lessor in respect of those outgoings during that period. > > > > > (g) The outgoings statement may be a composite statement (that is, it may relate to more than one lessee) so long as each lessee to which it relates is able to ascertain from the statement the information required by paragraph (a) that is relevant to that lessee. > > > > > (h) The outgoings statement need not be accompanied by an auditor’s report if the statement does not relate to any outgoings other than land tax, water, sewerage and drainage rates and charges, local council rates and charges, insurance and strata levies, and it is accompanied by copies of assessments, invoices, receipts or other proof of payment in respect of all expenditure by the lessor as referred to in paragraph (a). > > > (2) An auditor preparing a report under subsection (1) (e) or the lessor must ensure that the lessee is given a reasonable opportunity to make a written submission to the auditor on the accuracy of the lessor’s proposed outgoings statement. The auditor need not contact the lessee for the purposes of this subsection if the lessor advises the auditor that the lessor has informed the lessee of the lessee’s opportunity under this subsection. > > > (3) The auditor must consider any written submissions made pursuant to subsection (2). > > **s 28:** Subst 1997 No 52, Sch 1 \[5\]. Am 2001 No 34, Sch 4.53; 2005 No 90, Sch 1 \[31\]–\[33\].