- What is included in strata levies?
- What are strata fees?
- What can be included in strata fees?
- Are strata levies the same as body corporate fees?
Check your states tab for the latest information about Strata Levies. New information and links are added regularly. Be sure to check back to be kept up-to-date.
According to Strata Community Association (NSW), here are the definitions of:
- Levy: Levies are amounts paid into a trust account so that the scheme can fund and carry out its duties. Levies are the amounts that owners are bound by legislation to pay to the administrative fund and capital works to enable the communal management of the scheme. They are determined at the AGM via the approval of a budget and the decision of payment due dates. Each owner’s portion is determined by the lot unit entitlement as a proportion of the aggregate unit entitlement.
- Levy Arrears: The owner is in arrears if the amount owed by them has not been received into the trust account by the due date.
If you have enjoyed this topic page, discover more great information in our other Strata Topics covered.
Feature Article
NSW: Q&A Capital Works Fund – What Do We Need To Do Now?
Leanne Habib, Premium Strata
Question: How do I get the executive to acknowledge obligations under the new legislation – have a 10 year plan, have it professionally costed, take steps to raise the required funds and commence overdue works?
Most Recent Strata Levies Articles
NSW Q&A Section 100: The Power to Borrow Money - Question: At our next EGM we will be voting on whether to take out a Strata Loan to cover remedial works. What procedure is required for acceptance of this Motion? - QLD: COVID-19 Emergency Response Measures for Financial Management of Bodies Corporate - The purpose of the amendment is to provide measures to alleviate the financial burden caused by COVID-19 on bodies corporate and their Owners. But is the solution worse than the problem?
Our articles and Q&As about Your Strata Levies have been arranged by State
National Strata Levy articles
New South Wales
Queensland
Victoria
Australian Capital Territory
South Australia
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What are Strata Levies?
For a detailed explaination, take a look at this video by Michael Ferrier, Eyeon Property Inspections.
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