At a glance
Two compliance changes landed in 2026, and together they change how NSW strata schemes plan, spend, and stay safe. From 13 February 2026, fire safety measures must be maintained to Australian Standard AS 1851-2012. From 1 April 2026, 10-year capital works fund plans must be prepared in the standard form approved by NSW Fair Trading and finalised at each AGM.
Both point to the same idea: your capital works fund plan has to be real, not aspirational. In our latest webinar, our Chief of Governance walks owners, committees and community associations through what’s changed and how to set levies that reflect what your building actually needs.
Read the full breakdown below, or watch the complete session.
Watch the Full Webinar Below
Key takeaways from our latest Jamesons Webinar
Fire safety is now a maintenance discipline. From 13 February 2026, each essential measure (sprinklers, hydrants, fire doors, exit lights, alarms) must be serviced to AS 1851-2012 routines, with records kept in logbooks on site. Those records are the evidence an accredited fire safety practitioner relies on to sign your Annual Fire Safety Statement (AFSS). Because assessments take weeks, it’s worth starting 120 to 90 days before your statement is due, as there’s no extension once the deadline passes.
The duty to repair is strict. Under section 106 of the Strata Schemes Management Act 2015, an owners corporation must keep the common property in good and serviceable repair. The duty is continuous, not discretionary, and an underfunded capital works fund doesn’t suspend it. (Community associations have the equivalent duty under the Community Land Management Act 2021.)
Two funds, two jobs. Routine servicing, AFSS lodgement and minor repairs come from the administrative fund. Renewing or replacing an asset (a new fire panel, pump or full repaint) comes from the capital works fund. The simple test: does the work keep an existing system running, or renew and replace it?
Your 10-year plan sets your levy, not CPI. From 1 April 2026, renewed plans must use Fair Trading’s approved form, reviewed at least every five years and finalised at the AGM. CPI measures household costs, not building trade costs, which have outpaced it since 2021. Setting levies from the plan, then sanity-checking affordability, reduces the risk of a future special levy. Departing from the plan can be fine, but the reason belongs in the minutes.
Think like an asset manager. Every repair is data. Treating the building as a managed asset, rather than chasing the smallest possible levy, keeps its value and safety compounding, and makes special-levy surprises rare.
“A capital works fund plan has to be real, not an aspiration. CPI is an index, not a strategy. When you set your levy from the plan, you protect the building and you protect owners from the special levy nobody wants.”
Paul Culbi, Chief of Governance & Group Licensee in Charge, Jamesons Strata Management
Three things to do this month
Pull your fire safety file (Fire Safety Schedule, last AFSS, current servicing contract, open defects). Health-check your 10-year plan (when was it last reviewed, and do the next few years reflect 2026 costs?). And compare your capital works fund balance to where the plan says it should be. On track, ahead, or behind, that one comparison is the conversation your next meeting needs.
As Paul notes in the session, you can view NSW Fair Trading’s standard-form 10-year capital works fund plan template on the NSW Government website, or build one through the Capital Works Fund Planner in Strata Hub.
If you’d like a hand with any of it, speak to our team.
Downloads
For a deeper dive into the presentation, you can access the webinar slides and session questions at the links below.Get in touch today
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