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50% Levy increase

By susanna clark on Fri, 03 May 2019 at 22:15

Budget year 2017-2018 levy was R974 in total p.m.
On 6th Dec 2018 - 9 months after year end, the budget presented then would only be for 3-4 months left of financial year as financial year ended 31 March 2019
Can a budget be presented for part of the financial year?
Monthly levy up and till 6 Dec. 2019 was R974 Admin and Reserve funds inclusive.
At AGM levy was increased to R1042 PLUS R400 Project/Reserve Levy - A total increase of 50% per month!
No time limit was put on the Project/Res Levy and just ongoing.
Is such a huge increase in levy allowed????

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RE: 50% Levy increase

susanna clark replied on Fri, 03 May 2019 at 22:29

My apology - above paragraph must read 'Monthly levy up and till 6 Dec 2018" not 2019

RE: RE: 50% Levy increase

Murray Bennett replied on Sat, 04 May 2019 at 01:45

www.paddocks.co.za/paddocks-press-newsletter/jennifer-paddock-levies-what-you-need-to-know/

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