Body Corporate Levies - Prompt Payment Discount

[Giddy]

I keep hearing instances whereby Body Corporate Managers offer a discount if Body Corporate Levies are paid by a certain date.

Are BC's allowed to do this under the Unit Titles Act 2010? I can't see anything in there for the life of me and wondered if anyone else has had any advice on it?

Cheers

Giddy

[eri]

why would you want to fight a discount?

would you prefer everyone wait for a baliff to present a court order?

think that would work?

[Giddy]

Perhaps the query isn't written all that clearly.. it's more around the BC's ability to charge extra if levies remain unpaid, under these circumstances the BC is 'discounting' 20% which is higher than the maximum interest chargeable in the Act of 10%.. and getting around it by calling it a discount rather than interest. They don't even refer to the full levy anywhere in the budget. And if the discounted total budget is sufficient to cover the full budgeted expenditure for the year then why would a higher amount need to be charged anyway?? It just seems like word play in order to charge a higher interest rate and get around the Act.

[Walkerweir]

A discount for prompt payments makes no sense given the way budgets/levies are calculated. Prompt payment in this case may relate to the owner avoiding costs incurred with debt collection from secretary/management company chasing levies and passing this cost on?