› Flat Chat Strata Forum › Levies and Unit Entitlements › Lowering strata levy › Current Page
05/10/2021 at 1:51 pm
#59137
It appears that budgets do not have to be provided to owners prior to an AGM (from DoFT):
Levies are calculated at the annual general meeting (AGM) by the owners corporation. To set the levies, a budget must be given which shows the current financial situation and any estimates of payments to be made and received. The budget must be:
- distributed with the notice of the AGM, or
- tabled at the meeting before voting on the levy motion.
Many SMs seem to follow the second alternative which does not give owners any time to effectively review and assess implications.