Financial Administration Fees and Charges

Here is a list of our financial administration fees and charges

Emergency Orders

If the Guardianship and Administration Board makes an emergency order to appoint the Public Trustee as your financial administrator, the following fees apply

  • management fees are to be charged on an hourly rate basis ($115);
  • no capital commission will be taken; and
  • income commissions will be taken in accordance with standard rate.

 A time sheet is kept on file for these matters.

If an Emergency Order is converted to a Full Order

  • the hourly fees charged to the date of the conversion will be waived; and
  • capital commissions will be taken in accordance with standard rates.

Permanent Appointment

From 1 January 2016, if the Guardianship and Administration Board appoints the Public Trustee as a financial administrator, the following fees will be charged:

 For clients with assets under $10,000

  • no capital commission;
  • no monthly account fees; and
  • no income commissions.

 For clients with assets between $10,000 and under $100,000

  • no capital commission;
  • no monthly account fees; and
  • a 2.75% reduced fee is charged on the receipt of all income such as interest, dividends and pensions.

 For clients with assets over $100,000

  • $575.00 one-off establishment fee;
  • when the administration ends, a commission of 2.2% is taken on the current value of the assets which have not been realised during the administration;
  • a fee on any assets realised during the financial administration (e.g. collection of bank account, property sale) is charged at the same rate as administering an estate (see the chart below)

 

On the first $100,000 or part

4.4%

On the next $200,000 or part

3.3%

On the next $200,000 or part

2.2%

On amounts above $500,000

1.1%

 

  • a $62.00 fee is charged for completing the annual report required by the Guardianship and Administration Board; and
  • a $143.00 fee is charged for completing the 3 yearly review and report required by the Guardianship and Administration Board.

 Income Commission

  • The Public Trustee charges a 6.6% fee on the receipt of all income such as interest, dividends, pensions and rental income (where the Public Trustee is managing the property). The fee is reduced to 2.75% for represented person clients with assets between $10,000 and under $100,000. No fee is charged for clients with assets under $10,000.
  • A 3.3% fee is charged on rental income where the Public Trustee is not managing the property.
  • If income is received from an estate administered by the Public Trustee there is a 3.3% fee.

Investment Management Fee

A 1.1% investment management fee may apply to invested funds not directly managed by the Public Trustee.

The following fees and charges may apply: 

  • account keeping fee ($13.50 per month);
  • domestic cheque drawing ($6.00) and direct credit ($3.20);
  • international bank transfers ($24.00) and international bank drafts ($32.00), excluding any 3rd party transaction and processing fees;
  • investment review fees for developing an investment strategy for the client portfolio. The fee charged is dependent upon the complexity of individual circumstances;
  • depending on the complexity of the matter a fee will be charged for the preparation and lodgment of income tax returns and other taxation services including the establishment of the acquisition details of assets for capital gains tax purposes;
  • fee for conveyancing and other services provided in relation to the sale, purchase or transfer of a property; and/or
  • work of a particularly complex nature not covered above will be charged at an hourly rate.

Legal Services

Services provided by our legal practitioners are charged at a rate determined by the Public Trustee but not exceeding the maximum hourly attendance rate set out in the Supreme Court Rules 2000.