Who Calculates the levy ?
The Trustees of a sectional title scheme should, in terms of the Act, as resolution should be passed before each AGM, setting out the amount due for levies for the forthcoming financial year. This amount is approved by the body corporate at the AGM. Levies are payable according to participation quotas – meaning the larger your section, the more you will pay. Be aware that over and above the levy, exclusive use areas will be charged for. The Trustees will determine what this additional contribution will be. The Act is clear that any owner holding an exclusive use area right (whether registered or rule-created) shall be liable for contribution.This is not optional.