The body corporate levies are paid to the body corporate. All body corporate funds are kept in a separate bank account in the name of your body corporate and these funds are under the control of your body corporate committee members.

There is a myth that the body corporate manager receives the levies, however that is not the case. Your body corporate manager works for the committee to issue the invoices and assist with enquiries, but does not receive the body corporate levies.

Special levies are contributions that owners pay on top of their normal levies. They are required when unexpected spending, not allowed for in the budget, must be covered.

For example, if the body corporate has an unforseen building repair, a special levy may be required to fund that work.

Special levies can be used in conjunction with body corporate loans to allow the body corporate to pay for expensive work which cannot be covered using its normal funds.