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Proposed annual budgets are presented for lot owner consideration at each Annual General Meeting of the body corporate. Upon (majority) consent of budgets, the Strata Manager or alternatively the Secretary, is required to issue Notices of Contribution upon each lot owner that is registered within the scheme. These contributions are called “Body Corporate Levies”. Body Corporate Levies are calculated in accordance with the body corporate Schedule of Contribution Lot Entitlements or Schedule of Interest Lot Entitlements. In simple terms, the higher your (individual) contribution lot entitlement, the greater your contribution is towards the overall cost to manage, maintain or repair shared common areas.