A simple comparison for strata committees and strata managers.
Side-by-Side Comparison
| Before 1 April 2026 | From 1 April 2026 |
| No prescribed format – plans varied widely between consultants. | Mandatory standard form must be used for all 10-year capital works fund plan |
| Level of detail differed significantly between reports. | Structured, itemised breakdown of all major building elements. |
| Plans often focused on broad categories (e.g., “lifts”, “roof”). | Specific components must be listed (e.g., lift controller, cab finishes, pump sets, membranes). |
| Costing methods varied; some plans lacked transparent assumptions. | Clear costing methodology, including assumptions, unit rates, and lifecycle estimates. |
| Some plans lacked timing detail or used generic intervals. | Defined replacement cycles for each component, based on expected useful life. |
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Not all plans included compliance-related items. |
Mandatory inclusion of compliance and statutory items, such as fire safety, life updates, and essential services. |
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Some plans did not align with the IMS or first-year levies. |
Direct alignment with the IMS and first-year levy estimates, supporting independent certification. |
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Supporting documents were optional. |
Supporting documentation required, including warranties, manuals, and maintenance assumptions. |
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No requirement for independent review. |
For multi-storey schemes, the CWP must be consistent with the independently certified Ims and levy estimates. |
Overall, the new 10-year capital works fund plan requirements introduce a far more structured, transparent, and consistent approach than ever before. The mandatory standard form ensures every plan includes a detailed inventory of building components, clear lifecycle and costing assumptions, defined replacement timing, and full alignment with the initial maintenance schedule and first‑year levy estimates. By standardising the format and lifting the level of detail, the reforms give owners corporations a clearer financial roadmap and make it easier for developers to deliver compliant, defensible, and professionally prepared plans that support long‑term asset management from day one.