Pre-issue body corporate levies, or interim levies as they’re sometimes called, are a response to the peculiarities of the end of financial year process for strata schemes. Body corporate end of financial year systems are different from the majority of the rest of Australia. The end of financial year can be any month in the […]
posted on April 1, 2015 by
What Happens When Body Corporate Budgets Are Not Adopted
The biggest complaint about strata schemes is that the levies are too high! Particularly since levies have a tendency to increase, usually by a small amount year in year out. When they vote at general meetings most owners (if they vote) will vote yes to the legislative motions which include things like confirming the financials and insurance […]
posted on April 17, 2013 by
How To Calculate Body Corporate Levies
Mention the word body corporate and most people immediately think of levies. I’m convinced it’s the one thing that everyone knows about body corporate’s that’s actually correct. Every body corporate does issue levies. What amount those levies are is vastly different from building to building. I’ve seen levies per lot as low as $55 per year and […]
posted on April 8, 2013 by
Deficit In Body Corporate Funds
A deficit in the body corporate funds is a definite red flag as often it’s an indicator of a more serious issue financial issues. A body corporate is a legal entity, just a like a company or individual, and just like companies or individuals body corporates can run into financial problems, incur debt and be made bankrupt. […]
Unless stated otherwise all the information on this website relates to Queensland legislation.
