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Financials & Levies

Information about Levies and finances

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What is DEFT?

Information source: DEFT Payment Systems (Macquarie Bank Ltd.) What is DEFT? A system allowing easy, secure payments to your biller...

Customer Support May 17th, 2019 1661 views 0 likes
Strata Companies and GST

Summary Not all Strata Companies need to register for GST, but any Strata Company may elect to register. Strata Companies...

Customer Support June 8th, 2019 1188 views 0 likes
Cheque payments using the DEFT system

Paying by cheque is simple. You must send the DEFT payment slip (lower part of your levy notice) in the...

Customer Support August 7th, 2019 1752 views 0 likes
Financial Hardship & Payment Plans

Many people face financial hardship in their lifetime, often with no fault of their own. Losing a job, stopping work...

Customer Support January 22nd, 2021 789 views 1 likes
How do I get reimbursed for an emergency expense?

Summary There have been some occasions where an owner may urgently need to get a contractor to site to resolve...

Customer Support October 14th, 2019 1504 views 0 likes
Why have I been charged extra for non payment?

Summary: Levies are issued in accordance with the instruction of owners at the AGM. ESM issue levy notices well in...

Customer Support October 30th, 2019 922 views 0 likes
Should we have an investment account for our reserve fund?

Summary: Strata company bank accounts, whilst mainly free of everyday transaction fees, do not pay interest. Therefore, some Strata Companies...

Customer Support October 30th, 2019 1175 views 0 likes
What does 'being financial' mean in terms of a meeting?

Summary: An owner is 'financial' if they have paid all outstanding amounts recoverable under the Strata Titles Act 1985 (including...

Customer Support October 30th, 2019 936 views 0 likes
Why take out a strata loan?

Summary: A Strata Company may consider taking out a strata loan where essential works have to be carried out to...

Customer Support October 30th, 2019 945 views 0 likes
Interest Bearing Accounts (Macquarie Bank Ltd)

Overview Strata Company bank accounts, whilst mainly free of transaction fees, do not pay interest. Therefore, some Strata Companies may...

Customer Support August 18th, 2021 753 views 0 likes
Reserve Funds

Summary The amendments to the Strata Titles Act 1985, has a requirement for a designated Strata Company to establish a...

Customer Support January 10th, 2020 1764 views 21 likes
What are Units of Entitlement (UOE)?

Summary Each lot is allocated units of entitlement (UOE) which determines an owner’s portion of ownership of common property, their...

Customer Support June 8th, 2019 1635 views 0 likes