At the commencement of COVID in Queensland, the COVID-19 Emergency Response Act was put in place until 31 December 2020 for all bodies corporate.
The Queensland government has announced on 7 December 2020 that the COVID-19 emergency arrangements for Bodies Corporate that were put in place earlier in the year have now been extended to 30 April 2021.
This decision stemmed from the ongoing impacts of COVID-19 on lot owners throughout Queensland.
The below arrangements will now continue until 30 April 2021:
- A Body Corporate will be unable to charge penalty interest on overdue levies during this period.One aspect of the COVID Emergency Legislation was that a Body Corporate was not able to charge Penalty Interest, even if the Body Corporate had previously voted at a General Meeting to charge Penalty interest to a Lot Owner who had a levy outstanding for longer than 30 days.As of 30 April 2021, the Penalty Interest charging mechanism will be re-activated (for those Bodies Corporate who have voted previously to charge Penalty Interest) and Penalty Interest will be incurred where relevant. We highlight that any Penalty Interest (between 0.5% and 2.5% per month) is income for your Body Corporate and will appear within the Financial Statements to offset expenditure. Please note SSKB does not receive any of the Penalty Interest charged or paid by Owners. If you wish to find out more or discuss this further, please contact your SSKB Community Manager.
- The due date for payment of levies may be extended by a Body Corporate.
- Sinking fund budgets may be adjusted by a Body Corporate for its current financial year subject to certain conditions.
- Committees may approve expenditure above the spending limit if all owners consent in writing.
- Increased borrowing limits apply.
- Committees may allow voters to attend a committee meeting or general meeting remotely.
- Committees may arrange electronic voting for motions and committee elections.
- A Body Corporate may allow an interested person to inspect Body Corporate records by providing a copy or electronic access to the person if the relevant fees are paid.
- Committees have the authority to restrict access to common property if reasonably necessary to comply with health directives.
Click here to read more about the COVID-19 amendments on the Queensland Government Website.