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What are levies used for?

Levies collected from owners are paid into the Body Corporate's bank account(s) and used to pay for the Body Corporate's operating and capital costs (as approved by the members of the Body Corporate at general meetings or by the committee in between general meetings). Examples of operating costs:

Repairing and maintaining common property and utility services 

Costs of engaging a body corporate manager to ensure the Body Corporate is complying with regulatory procedures when making decisions

Registration fees payable to Council (e.g. for backflow prevention devices

Insurance premiums for building reinstatement and public risk policies the Body Corporate is required by law to take out. 

Utility supply costs to common property

Costs of complying with routine fire services maintenance regulations for the building

Caretaker's and other contractor's fees

Costs of purchasing and maintaining body corporate assets

Costs of engaging consultants and experts to provide advice 

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