Queensland Consolidated Acts Queensland Consolidated Acts(1) In this section—
outgoings include maintenance and promotion amounts.
(2) If, under a retail shop lease, the lessee is required to pay all or part of the lessor's outgoings for the retail shopping centre or leased building in which the leased shop is situated—
(a) the lease must specify—
(i) the outgoings payable by the lessee; and
(ii) how the outgoings will be determined and apportioned to the lessee; and
(iii) how the outgoings may be recovered by the lessor from the lessee; and
(b) the lessor must give to the lessee an annual estimate in the approved form of the lessor's outgoings, other than specific outgoings—
(i) at least 1 month before the start of the period to which the estimate relates; or
(ii) if the lessee enters into the lease during the period to which the estimate relates or within 1 month before the start of the period—when the lessee enters into the lease; and
(c) the lessor must give the lessee an audited annual statement in the approved form of the outgoings within 3 months after the end of the period to which the outgoings relate.
Maximum penalty—60 penalty units.
(3) The outgoings shown in the annual estimate and statement must be itemised so that the amount shown for each item is not more than 5% of the total outgoings shown in the estimate or statement.
(4) However, the amount shown for an item may be more than 5% of the total outgoings if the item relates to—
(a) a charge, levy, rate or tax payable under an Act; or
(b) a particular outgoing that can not be broken up to comply with the subsection (3).
(5) The audited annual statement must—
(a) be prepared by a registered auditor in accordance with auditing standards generally accepted in the Australian accounting profession; and
(b) contain the auditor's opinion on whether the statement presents fairly the lessor's outgoings for the accounting period to which it relates in accordance with the lessor's financial records and this Act; and
(c) compare the annual estimates of the lessor's outgoings with the amount actually spent by the lessor for the outgoings during the period; and
(d) compare the total amount actually spent by the lessor for outgoings during the period with the total amounts actually paid by lessees to the lessor during the period.
(6) If a person becomes the owner of a retail shopping centre or building containing 1 or more retail shops, the first estimate and statement of outgoings given by the person may be made for a period less than 1 year.