Rates Incentive Scheme
Council offers a Rates Incentive Scheme for ratepayers who elect to pay their annual rates in advance as a lump sum as opposed to paying in four equal instalments.
The scheme is run to the benefit of all ratepayers as by receiving the rate income early Council is able to invest those funds and provide some of its services through the interest earned on the advanced payment of rates. This benefits all ratepayers as it means that Council can, in essence subsidise its rates, fees and charges by the amount received in interest income.
If the scheme were to be abolished and ratepayers no longer paid their rates in advance it would mean that Council would need to raise additional income through other means to balance the budget and thus affecting all ratepayers. In recognition of those ratepayers who elect to pay their rates in full in advance and forgo their own opportunity benefits of interest, Council offers a range of prizes.
The competition is open to all ratepayers of the Tweed Shire who pay in full and in advance all outstanding rates and charges by the 1st instalment due date.
Tweed Councillors, Council senior officers, Revenue and Recovery and IT staff will not be eligible for inclusion in the prize draw.
No correspondence will be entered into prior to or after the draws.
The prizes will be drawn at the first Ordinary Council Meeting after the 1st instalment due date. The prize winners will be notified in writing and a public notice advertisement will appear in the "Tweed Link" after the draws.
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