Service
Body corporate levies and accounts
We operate your body corporate’s administrative and sinking fund accounts, prepare budgets, issue levy notices, follow up arrears and reconcile the accounts every month. Committees get clear statements, and owners get notices that show exactly what is due and when.
What’s included
Accounts management
- Open, maintain and operate the bank account for the administrative and sinking funds
- Prepare budgets on which to base forthcoming levies, issue levy notices and follow up overdue levies
- Prompt payment of body corporate accounts, and receipt and banking of levies and other income
- Bank reconciliations every month, and preparation and distribution of financial statements and budgets
Budgets and levies
The committee prepares an administrative fund budget and a sinking fund budget each year, and owners approve them by ordinary resolution at the AGM. Levies are then set for each lot, usually by its contribution schedule lot entitlement. We prepare the draft budgets with the committee, and every levy notice goes out at least 30 days before its due date.
Overdue levies
We follow up overdue levies promptly. Where the body corporate has set a discount for paying on time, or penalty interest on late payments, the notice shows it. If a levy stays unpaid, the body corporate can take recovery action. If a debt reaches 2 years overdue, recovery action must start within 2 months of that date, so we keep arrears in front of the committee.
Monthly reconciliation and reporting
When a body corporate manager is authorised to manage the funds, a reconciliation statement for all accounts must be prepared within 21 days after the end of each month. We reconcile monthly and prepare the financial statements and budgets the body corporate needs.
Read what body corporate levies pay for and sinking fund basics.
Frequently asked questions
How are body corporate levies calculated in Queensland?
Levies are generally based on each lot’s contribution schedule lot entitlement, unless the legislation says otherwise. In building format plans, the building insurance part is based on the interest schedule lot entitlement.
How much notice do owners get before levies are due?
Owners must be given written notice at least 30 days before a contribution is due.
Can money move between the administrative and sinking funds?
No. The two funds are kept separate, and money cannot be transferred between them.
Sources
- Owner's contributions (Queensland Government)
- Body corporate budgets (Queensland Government)
- Administrative fund (Queensland Government)
- Sinking fund (Queensland Government)
- Body corporate manager (Queensland Government)
Checked 22 October 2026. The law and official guidance change, so check the current source before relying on it. This page is general information about Queensland body corporate law, not legal advice. For advice about your situation, speak with a lawyer.