Queensland Public Trustee fees and charges for trusts
Our trust administration fees and charges are divided into four main areas:
- trust service fees
- asset management fees
- incidental outlays
- additional services fees.
Trust administration fees 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.
Trust service fees
This is the general trust administration service. It is based on how many financial transactions we make or receive on behalf of the trust over the year.
As this fee is charged monthly, the fee may be adjusted from month to month to ensure the total fee paid for the year is based on the total number of financial transactions for the year.
Trust service fees—general trusts including minor trusts
Our trust service fees for general trusts are calculated differently to trusts we administer which are created by a Will (testamentary trusts) including life interest, right of residence or limited interest assets.
The trust service fees for general trusts are as follows:
| Number of financial transactions per year | Level of service | Yearly fee (including GST)0 to 1 |
|---|---|---|
| 0 to 1 | 1 | $444.80 |
| 2 to 5 | 2 | $584.10 |
| 6 to 10 | 3 | $733.60 |
| 11 to 20 | 4 | $956.20 |
| 21 to 30 | 5 | $1,278.95 |
| 31 to 40 | 6 | $1,599.05 |
| 41 to 50 | 7 | $1,906.10 |
| 51 or more | 8 | $2,224.95 |
Trust service fees—testamentary trusts
Trusts created under a Will with a life interest, right of residence or limited interest assets are a particular kind of trust and our trust service fees are different to the fee amounts above.
Fees for trusts created under a Will are as follows:
| Number of financial transactions per year | Level of service | Yearly fee (including GST) |
|---|---|---|
| 0 | 1 | $0 |
| 1 to 6 | 2 | $60.90 |
| 7 to 10 | 3 | $398.00 |
| 11 to 15 | 4 | $805.35 |
| 16 to 20 | 5 | $1,609.45 |
| 21 to 30 | 6 | $2,412.35 |
| 31 to 50 | 7 | $3,618.60 |
| 51 or more | 8 | $4,822.25 |
Asset management fees and charges
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 held within the trust. Our asset management fees are based on the total value of the trust'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)
- personal and household items
- motor vehicles
- personal jewellery.
These 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 $1,500,00 | 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 |
Real estate property fee
In addition to general asset management, we may also manage any real estate property owned by the trust. 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.
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 our 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.
General trusts including minor trusts
| 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 |
Testamentary trusts
As with the trust service fees, trusts created under a Will with a life interest, right of residence or limited interest assets are a particular kind of trust and our incidental outlays cost is different to the amounts above.
Incidental outlays costs for trusts created under a Will with a life interest, right of residence or limited interest assets are as follows:
| Number of transactions per year | Cost (including GST) |
|---|---|
| Up to 100 | $31 |
| 101 to 120 | $57 |
| 121 to 140 | $80 |
| 141 to 160 | $102 |
| 161 to 180 | $118 |
| 181 to 200 | $142 |
| 201 to 225 | $156 |
| 226 to 250 | $174 |
| 251 or more | $193 |
Additional services for trust management
To provide our customers with a complete service, we may need to provide more than our standard services. This includes services such as: buying or selling a property or vehicle; or taking necessary action to deal with or preserve an interest in a trust, corporation, business or partnership.
The fee for additional services is calculated at an hourly rate of $267.85 (including GST). We will contact the beneficiary before we perform an additional service.
Community service obligation rebate
If our customers cannot afford our service fees, we will rebate some or all of the fees. We call this our community service obligation. Call us on 1300 360 044 or see our contact page for ways to get in touch with us and speak to someone about our community service obligation rebates.
Real estate property fee rebate
The real estate property fee is rebated for properties that are the principal place of residence (main home) of:
- a beneficiary under the trust, or
- a person who is entitled to a life or limited interest in the property which forms part of the trust.
General and testamentary trusts excluding minor trusts
With both general trusts and those created as part of a Will (testamentary trusts) the total fees will never cost more than 5% of the value of the trust’s assessable assets.
Rebates for minor trusts
Minor trust matters receive community service obligation rebates. The maximum that could be charged for a minor trust is equal to the below listed percentages of the assets held in the trust.
| Level | Lower limit ($) | Upper limit ($) | Charge % (maximum charged as a % of asset under management) |
|---|---|---|---|
| Level 1 | - | 55,000.00 | 0.20% |
| Level 2 | 55,000.01 | 65,000.00 | 0.30% |
| Level 3 | 65,000.01 | 75,000.00 | 0.40% |
| Level 4 | 75,000.01 | 85,000.00 | 0.50% |
| Level 5 | 85,000.01 | 100,000.00 | 0.60% |
| Level 6 | 100,000.01 | 110,000.00 | 0.70% |
| Level 7 | 110,000.01 | 130,000.00 | 0.75% |
| Level 8 | 130,000.01 | 140,000.00 | 0.80% |
| Level 9 | 140,000.01 | 160,000.00 | 0.85% |
| Level 10 | 160,000.01 | 190,000.00 | 0.90% |
| Level 11 | 190,000.01 | 240,000.00 | 0.95% |
| Level 12 | 240,000.01 | 310,000.00 | 1.00% |
| Level 13 | Any amount greater than 310,000.00 | 2.00% |
More information
All fees and charges shown are from the Public Trustee (Fees And Charges Notice) (No.1) 2021 - effective 1 July 2021.
Contact us
For any other trust related enquiries please contact us on 1300 360 044.