Tag Archives: assessment

Fees for vacant lots from 2016

Indenture

In accordance with the Articles of the Association the Board has approved an increase of 9.44% with respect to the Indenture Charges due for each vacant lot effective January 1, 2016. The last revision took place in January 2011. The Articles govern the amount by which the Indenture Charges may be increased as follows:

Firstly the annual “Indenture Charge” which is subject to upwards revision every five (5) years and adjusted to reflect any increase in the cost of living as published by the Bureau of Labour Statistics of the United States Department of Labour to be paid on the first day of January every year by the member to the Association under the provisions of the Founding Agreements.

The revised rates are shown below and are subject to VAT at the prevailing rate (presently 7.5%):

2011 2016
Phase V lots  $1,673.70  $1,831.68
Other lots  $1,389.97  $1,521.17

Bills will be issued in December 2015 and will be due on January 1, 2016.

Introduction of VAT from January 2015

VAT

We understand that the proposed VAT (Value Added Tax) bill will become effective from January 1, 2015. Under the terms of the bill Sandyport Homeowners Association requires mandatory registration as it does not meet the requirements for exemption.

As a VAT registered entity we will add the tax at the prevailing rate (currently 7.5%) to all charges. As we will be able to recover the VAT paid on purchases, there is no cost burden to the Association. However homeowners should prepare for the addition of VAT to all charges made by the Association.

2013 Annual Report

2013 Annual Report

The Directors are pleased to announce the publication of the first Annual Report of the Sandyport Homeowners Association. An online version is available for viewing at this link and a print copy will be available at the forthcoming Annual General Meeting.

The AGM takes place on Friday March 28th, 2014 and registration commences at 5:00pm. The meeting will be called to order at 5:30pm.