Levy Discounts – How Much and When can they be given?

› Forums › Levies and Unit Entitlements › Current Page

Create New Reply
  • Creator
    Topic
  • 04/04/2012 at 10:29 pm #8044 Reply | Quote
    SMIG

      NSW STRATA SCHEMES MANAGEMENT ACT 1996 – SECT 79

      (Interest and discounts on contributions)

      paragraph 4 reads as follows:

      “An owners corporation may, by special resolution, determine (either generally or in a particular case) that a person may pay 10 per cent less of a contribution levied if the person pays the contribution before the date on which it becomes due and payable”.

       

      I would like to know, when making the special resolution required to allow a discount:

      1. can we nominate a different percentage rate (or maybe even a set amount) of discount to be applied?

      2. can a date be set before which payments will attract the discount being offered? For example, 7 or more days before the levy due date.

    • Creator
      Topic
    Reply To: Reply #15270 in Levy Discounts – How Much and When can they be given?
    PLEASE ... If your property is not in NSW, mention its location (state). Don't identify companies or individuals by name. Don't mention or promote your company or services. Keep acronyms and initials to a minimum. Please, don’t use “quote” unless there is a specific point to which you wish to refer, then highlight (define) that specific passage before you click on "quote". Otherwise just use reply. THANKS.

    You can use BBCodes to format your content.
    Your account can't use all available BBCodes, they will be stripped before saving.

    Your information:




    › Forums › Levies and Unit Entitlements › Current Page