Frequently Asked Questions (FAQ)

Money matters

General

Our financial year for the scheme starts on 1 August each year and ends on 31 July in the next year.

Financial years are often described in shorthand using either the first and last years, or just the last year. For example:

For the financial year that started on 1 August 2025 and ends on 31 July 2026, any of the would be a way to refer to it:
"Financial year" or "FY"

  • Financial year 2025–2026 or FY2025–2026
  • Financial year 2025–26 or FY2025–26
  • Financial year 2026 or FY2026
  • Financial year '26 or FY26

All of these mean the same thing!

Levies

A receipt is not automatically generated. Levies usually take 2–3 days to be applied to your account, so after that time you can complete this form and a confirmation can be emailed to you.

Yes. The discount applies when you pay by the due date shown on your levy notice – it is not an early payment bonus, it is the reduced amount you pay if your levy is received on time. If you miss the due date, the full (gross) amount applies.

The 2025–26 discount percentages are:
Q1: Admin fund: 15% | Admin fund: 15% | Combined discount: 15%
Q2–Q4: Admin fund: 13.6% | Admin fund: 13.26% | Combined discount: 13.52%
2025–26: Admin fund: 13.92% | Admin fund: 13.80% | Combined discount: 13.89%

There is more information, including tables showing the levy amounts, discount amounts and the discount percentages on the levies page.

When the 2024–25 budget was prepared by the scheme’s previous manager, Hartley’s, the discount calculation contained errors that – if left uncorrected – would have produced a shortfall in expected income of around $8,000.

The committee considered three options:

  1. reduce the discount slightly to protect budgeted income;
  2. retain the 15% discount and absorb the shortfall; or
  3. increase levies to preserve both the 15% discount and the budgeted income.

The committee decided the first option was the most prudent – it keeps levies lower, still offers a meaningful discount, and avoids the risk of a deficit requiring special contributions. Owners who pay all 2025–26 levies by their due dates will receive a combined discount of 13.89% across both the administrative and sinking funds.

Image