- What is included in strata levies?
- What are strata levies?
- Are strata levies the same as body corporate fees?
Check your states tab for the latest information about Strata Levies and the capital works fund. 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:
- 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.
Strata Levy Information Page
LookUpStrata unpacks everything strata owners need to know about strata fees, including strata fee definition, average strata fees, how to calculate strata fees, strata payments and much more.
Most Recent Strata Levies Articles
- NAT: Body Corporate Money Should Only Be Invested In Banks - Question: Body Corporate money should only be invested in banks whose deposits are guaranteed by the federal government. Other investment vehicles will not be government guaranteed and money will be lost.
- NSW: What Are The Principles Applied By The Tribunal In The Re-Allocation Of Unit Entitlements? - Unit entitlements are determined at the time a strata plan is registered and are important for many reasons, including the effect it has on voting rights and the payment of levies.
Our articles and Q&As about Your Strata Levies have been arranged by State
What are Strata Levies?
For a detailed explaination, take a look at this video by Michael Ferrier, Eyeon Property Inspections.
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