Queensland Public Trustee* fees and charges for financial administration
We are able to ensure our fees are reasonable (as required under the Public Trustee Act 1978) by reducing our fees and charges. We do this through a system of fee rebates and remissions, and fee reductions for financial hardship reasons, which assist customers with the cost of fees. If you are experiencing financial hardship or have concerns, please contact us on 1300 360 044. If you are an existing financial administration customer, you can talk with our customer team about this, or you can contact the Customer Advocate by email to [email protected] or by telephone on 07 3858 9805.
Financial administration fees and charges are calculated over the financial year (1 July to 30 June) and are charged monthly. You can have a look at our Fees and charges ready reckoner factsheet as a quick reference tool.
Financial administration fees
Our financial administration fees are based on the level of support that we provide and how we are appointed to administer a person’s financial matters.
The different ways that we apply fees can generally be broken up into three categories, as follows:
-
We can be appointed to administer all financial matters for a person.
Such an appointment could be made in two ways. Firstly, the Queensland Civil and Administrative Tribunal (QCAT) can appoint us to be the administrator. Or secondly, a person themselves can appoint Queensland Public Trustee* as financial attorney in their enduring power of attorney.
In both appointments the person would have impaired capacity for financial matters. Most of our customers fall into this category.
Further information about our fees when we are appointed for all financial matters.
Note: Sometimes, people appoint us as a financial attorney to act for them when they still have capacity for financial matters. They may want us to help them with certain financial matters. For more information about the fees for this service, contact our customer team on 1300 360 044.
-
This appointment occurs when a person is awarded a sum of money as a claim for personal injuries and the person has impaired capacity for financial matters.
In these situations, Queensland Public Trustee* will only be administering the funds awarded by the court.
Fees are charged differently in these situations to when we are appointed to administer all financial matters.
-
Sometimes QCAT will appoint us as an administrator, but we are not appointed for all financial matters. In these situations, we only administer some of the financial matters for a person.
Our fees under these conditions are based on the amount of support that we provide for the appointed financial matters. The individual circumstances and support need to be considered so that the fees we charge are reasonable and appropriate. If you have questions about the fees applied in these matters, please contact our customer team.
Our fees when Queensland Public Trustee* administers all financial matters
When Queensland Public Trustee* administers all the financial matters for a customer, there are four different types of fees and charges that may be applied. These fees and charges are then added together to give a total amount. The four different types of fees and charges that may be applied are:
- personal financial administration fees
- asset management fees (including any real estate property fees)
- incidental outlays
- additional service fees (if required).
You can read on for further information about these different fee types.
After we work out what the total fees are for a customer, we then may apply certain rebates which will reduce the amount of fees and charges payable. These rebates are applied as part of our community service obligations. Further information about these rebates can be found in the section ‘Community service obligation rebates’.
Examples of financial administration fees for customers
Here are some examples of the way Queensland Public Trustee* charges financial administration fees for customers when we administer all their financial matters.
Emma's example
Emma lives in Public Housing. She has a disability pension that is paid to Queensland Public Trustee*. Emma has $6,000 in a cash account. She pays for her daily living expenses, and Queensland Public Trustee* manages the payment of her bills and board. Emma speaks with Queensland Public Trustee* more than once a fortnight.
To ensure Emma's fees are reasonable having regard to her financial circumstances, Emma is eligible for a rebate on her personal financial administration and asset management fees due to a cap on these fees which is based on 5% of her assessable assets.
Emma's yearly fees and charges will be:
| Fee or charge name | Amount |
|---|---|
| Personal financial administration fee | $9,283.10 |
| Asset management fee | $200.10 |
| Incidental outlays | $102 |
| Total yearly fees and charges (after a Community Service Obligation rebate of *$9,183.20) *$9,483.20 (PFA and AMF ) – $300 (5% of assessable assets of $6000) = $9,183.20 | $402 |
Peter's example
Peter lives in a property that he owns. He is paid a pension each fortnight that Queensland Public Trustee* manages. He has $6,000 worth of assessable assets and his property is worth $420,000. Queensland Public Trustee* manages his living expenses, utility bills and insurance. Peter only needs to contact Queensland Public Trustee* once a month.
To ensure Peter’s fees are reasonable with regard to his circumstances, he is eligible for a rebate on his personal financial administration and asset management fees, and a remission of the fee for his Principal Place of Residence. When calculating the rebate on his personal financial administration and asset management fees, his Principal Place of Residence is excluded from his assessable assets upon which his fee cap is calculated.
Peter's yearly fees and charges will be:
Fee or charge name | Amount |
|---|---|
Personal financial administration fee | $6,629.85 |
Asset management fee | $200.10 |
Asset management fee - real estate property | $996.55 |
Incidental outlays | $102 |
Total yearly fees and charges *$6,829.95 (PFA and AMF) – $300 (5% of assessable assets of $6000) = $6,529.95 | $402 |
Personal financial administration fees
We spend the first three months understanding what level of support would suit the customer’s lifestyle and look at:
- the customer’s living situation
- where the customer’s income is paid
- how the customer’s bills are to be paid
- how often the customer will need contact with us.
We set an appropriate fee for the personal financial administration service that suits the customer’s lifestyle after the first three months. These fees are based on how much support the customer will receive from us. We review the customer’s situation each year to check if the level of support still suits their lifestyle.
Description of service | Level of service | Yearly fee (including GST) |
|---|---|---|
Customer resides in a commonwealth-funded aged care facility or hospital and their main source of income is paid to the facility. | Level 1 | $1,324.50 |
Customer resides in a commonwealth-funded aged care facility or hospital and their main source of income is NOT paid to the facility. | Level 2 | $2,123.40 |
Customer is supported in the community by Disability Services Queensland through the alternative living service or by a non-government organisation through a management agreement. | Level 3 | $2,650.45 |
Customer is living in the community either independently or with the support of family/friends who assist the customer with their day-to-day personal financial administration. | Level 4 | $3,977.75 |
Customer is living in the community with personal financial administration assistance from Queensland Public Trustee* and/or day to day assistance provided by support workers. Contact with Queensland Public Trustee* is once per fortnight or less. | Level 5 | $6,629.85 |
Customer is receiving personal financial administration assistance from Queensland Public Trustee* and contact with Queensland Public Trustee* is more than once per fortnight. | Level 6 | $9,283.10 |
Asset management fees (including real estate property fee)
This fee applies when we are responsible for the administration of assets. This may involve the management of cash, investments or some other form of asset owned by the customer. Our asset management fees are based on the total value of the customer's assessable assets for the purpose of calculating these fees.
Assessable assets that we administer could include:
- shares
- managed funds
- term deposits.
Assets that are not regarded as assessable in the calculation of asset management fees include:
- real estate property (see separate fee below)
- refundable accommodation deposits for aged care facilities
- personal and household items
- motor vehicles
- personal jewellery.
The asset management fees are based on a range of values for the assessable assets as follows:
Total value of assets | Level of service | Yearly fee (including GST) |
|---|---|---|
$0 to $5,000 | Level 1 | $0 |
$5,001 to $10,000 | Level 2 | $200.10 |
$10,001 to $30,000 | Level 3 | $299.15 |
$30,001 to $50,000 | Level 4 | $604.85 |
$50,001 to $100,000 | Level 5 | $805.35 |
$100,001 to $200,000 | Level 6 | $1,306.25 |
$200,001 to $300,000 | Level 7 | $2,007.65 |
$300,001 to $500,000 | Level 8 | $2,814.45 |
$500,001 to $750,000 | Level 9 | $4,019.45 |
$750,001 to $1,000,000 | Level 10 | $6,028.65 |
$1,000,001 to $1,500,000 | Level 11 | $7,837.50 |
$1,500,001 to $2,000,000 | Level 12 | $9,745.10 |
$2,000,001 to $2,500,000 | Level 13 | $11,754.30 |
$2,500,001 or more | Level 14 | $13,667.20 |
In addition to general asset management, we also may manage any real estate property owned by the customer. The management of the property includes arranging and actioning building inspections and undertaking any necessary maintenance to the property.
The fee for this service is $996.55 per property per year. Since 1 November 2022, we have placed a hold on our real estate property fee being charged to our financial administration customers.
Separate outlays may be charged by third parties who conduct work at the property. For example, a fee charged by a plumber for fixing a leaking tap, or the fee to conduct a building and pest inspection.
Incidental outlays
When providing services, we often incur outlays to run and maintain our systems as well as photocopying, postage and phone call costs. We recoup the cost by charging an amount based on the type of service and the number of transactions required to provide the service.
From 1 November 2022, we have placed a hold on our incidental outlays being charged to our financial administration customers.
Number of transactions per year | Cost (including GST) |
|---|---|
Up to 55 | $31 |
56 to 70 | $57 |
71 to 90 | $80 |
91 to 110 | $102 |
111 to 130 | $118 |
131 to 150 | $132 |
151 to 170 | $142 |
171 to 195 | $156 |
196 to 220 | $174 |
221 or more | $193 |
Additional service fees (if required)
To deliver a complete service to our customers, we may need to provide more than our standard services.
We may undertake other additional activities as part of our financial administration which may include:
- the collection or payment of considerable debts
- providing instructions or other information in regard to legal services
- taking any necessary action to deal with or preserve a customer’s interest in a trust, business or partnership.
The fee for additional activities is calculated at an hourly rate of $267.85 (including GST). We will contact our customer before we perform an additional activity that attracts a fee charged at the hourly rate.
Rebates
If our customers cannot afford our service fees, we will rebate some or all the fees. We call this our community service obligation. Call us on 1300 360 044 or contact one of our customer team members to learn more about our community service obligation rebates.
Community service obligation rebates
The total fees charged by us will never cost more than 5% of the value of the customer’s assessable assets. To see examples of how these rebates are applied, read about the rebates Emma and Peter receive.
Principal place of residence (main home) rebate
For properties that are the principal place of residence (main home) of the financial administration customer, the real estate property (realty) management fee is rebated.
Financial hardship rebate
Another part of our community service obligations is our hardship rebate.
Our financial hardship rebate applies to customers to ensure our fees have the least restriction on their rights, interests and opportunities.
Generally, to be eligible for the hardship rebate, customers own their home they live in and have $5,000 or less in cash assets.
Customers meeting these criteria receive an additional rebate of the personal financial administration and asset management fees. Queensland Public Trustee* excludes the value of the customer home from the assessable assets when calculating the maximum fee payable being 5% of the value of the customer’s assets.
We check whether all new financial administration customers meet the criteria for hardship. We also check each year if our current financial administration customers meet the criteria. Customers can call us on 1300 360 044 or contact one of our customer team members to learn more about the hardship rebate, and if they think they are able to receive it.
Our fees when Queensland Public Trustee* is appointed administrator under a court sanction
When Queensland Public Trustee* is appointed as an administrator for financial matters limited to the administration of a settlement from a court sanction, the way personal financial administration fees are calculated is different. All other fees such as the asset management fee (including real property fee), incidental outlays and additional service fees (if required) are applied in the same way as in full financial administration matters. Community service obligation rebates are applied the same as well. For information about how these fees and rebates are applied, you can go to those sections by clicking on these links:
Personal financial administration fee—limited order court sanction
There is a once-off payment of $6,629.85 which covers the initial processes in understanding the customer’s circumstances such as setting up the customer’s assets, an initial budget and financial planning. There are ongoing fees based on the number of transactions administered for the customer per year. These fees range from $703.70 to $5,281.70 per year.
Number of financial transactions per year | Level of service | Yearly fee (including GST) |
|---|---|---|
0 to 5 | Level 1 | $703.70 |
6 to 10 | Level 2 | $1,233.35 |
11 to 30 | Level 3 | $1,760.45 |
31 to 50 | Level 4 | $2,290.05 |
51 to 80 | Level 5 | $2,818.45 |
81 to 110 | Level 6 | $3,345.40 |
111 to 150 | Level 7 | $3,875.05 |
151 to 200 | Level 8 | $4,404.70 |
Over 200 | Level 9 | $5,281.70 |
If a customer is experiencing financial hardship or there are concerns, please contact us on 1300 360 044.
*Please note that we call ourselves Queensland Public Trustee to encompass our whole organisation and all of its work, but the formal legal name and entity is Public Trustee of Queensland under the Public Trustee Act 1978.