The Important Notice to members from the Board posted here previously contained small errors, which have been corrected below. It will also be emailed or posted to all members individually.
The Important Notice to members from the Board posted here previously contained small errors, which have been corrected below. It will also be emailed or posted to all members individually.
The way GST is presented in this letter is incorrect.
It will not mean expenses cost 10% more, the co-op already pays GST on its expenses and GST registration means we are entitled to a refund of the GST paid.
It will not necessarily mean that the levies go up 10%, that is a budgeting choice. If the co-op is getting a GST refund on expenses, then our expenses will effectively go down 10%.