Discounts on levies

In terms of the STSM Act the following applies:

PMR 26. (1)           A body corporate must—

(e)prepare budgets for the administrative and reserve funds comprising itemised estimates of the anticipated income and expenses during the next financial year for presentation at the annual general meeting; provided that such budgets may include discounts not exceeding 10 per cent of a members’ annual contributions applicable if all those contributions are paid on or before the due dates;

So the answer is yes discounts are allowed – but it needs to be properly budgeted for first.