47Statement of outgoings

47 Statement of outgoings (2) The landlord must prepare a written statement that details all expenditure by the landlord, in each of the landlord's accounting periods during the term of the lease, on account of outgoings to which the tenant is liable to contribute. (3) The landlord must— (a) make the statement available to the tenant at least once in relation to expenditure during each of the landlord's accounting periods during the term of the lease; and (b) give the tenant the statement within 3 months after the end of the accounting period to which it relates. (4) The outgoings statement may relate to more than one tenant as long as each tenant to which it relates can ascertain from the statement the details relevant to the tenant. (5) The outgoings statement must be— (a) prepared in accordance with relevant principles and disclosure requirements of applicable accounting standards (in force from time to time) made by the Australian Accounting Standards Board; and (b) in the case of a statement given under subsection (3)(b), accompanied by a report prepared by a registered company auditor (within the meaning of the Corporations Act) that states whether— (i) the statement correctly states the landlord's expenditure during the accounting period in respect of the total amount of outgoings, and each individual outgoing that comprises more than the prescribed percentage of the total amount of outgoings, to which the tenant is liable to contribute; and (ii) the total amount of estimated outgoings for that period (as shown in the estimate of outgoings given to the tenant) exceeded the total actual expenditure by the landlord in respect of those outgoings during that period. (6) However, the outgoings statement given under subsection (3)(b) need not be accompanied by an auditor's report if it— (a) does not relate to any outgoings other than— (i) GST; and (ii) water, sewerage and drainage rates and charges; and (iii) municipal council rates and charges; and (iv) insurance; and (v) any other outgoing of a kind prescribed by the regulations; and (b) is accompanied by copies of assessments, invoices, receipts or other proof of payment for all expenditure by the landlord included in the statement. (7) An auditor preparing a report under subsection (5)(b) must ensure that the tenant is given a reasonable opportunity to make a written submission to the auditor on the accuracy of the outgoings statement.