› Forums › Levies and Unit Entitlements › Can we quarantine special levy funds? › Current Page
07/08/2026 at 2:59 pm
#84907
Put a motion to the Strata Committee Meeting agenda requesting that your Strata Manager places the funds into a term deposit
That could create a problem if your scheme is in the habit of declaring zero income to the tax office. Term deposits will attract interest, which will have to be declared, which will require input from your strata manager and an accountant, which may cost more than you get from the interest. I’d think the simplest solution would be for the OC to instruct the treasurer to a) list the special levies money as a separate line item in the accounts and b) not permit its use for any other purpose.
