Fees and Charges for Financial Management

The fees are calculated for the financial year (from 1 July to 30 June). These fees are a combination of three main services:

  1. Financial Administration
  2. Asset Management
  3. (If applicable) Other Services

The fees and charges for these services are outlined below.

Learn more about the Financial Management services.

1. Financial Administration

There are two types of Financial Administration:

  • Personal Financial Administration (We help manage all of your finances)
  • Limited Administration Orders (QCAT or the Supreme Court choose us to help manage a specific asset or income)

Personal Financial Administration

We spend the first three months understanding what level of assistance would suit your lifestyle and look at:

  • your living situation
  • where your income is paid
  • who is paying your bills
  • how often you'll need contact with us

We set an appropriate fee for the Personal Financial Administration service that suits your lifestyle after the first three months. We review your situation each year to check if the level of assistance still suits your lifestyle.

Personal Financial Administration fees and charges

These fees are based on how much assistance you'll receive from us and range from $1,279.40 to $8,966.60 per year.

Level of service Description of service Fees per year (including GST)
Level 1 Client resides in a commonwealth funded aged care facility or hospital and their main source of income is paid to the facility $1,279.40
Level 2 Client resides in a commonwealth funded aged care facility or hospital and their main source of income is NOT paid to the facility $2,051.05
Level 3 Client is supported in the community by Disability Services Queensland through the alternative living service or by a non-government organisation through a management agreement $2,560.10
Level 4 Client is living in the community either independently or with the support of family/friends who assist the client with their day to day personal financial administration $3,842.15
Level 5 Client is living in the community with personal financial administration assistance from the Public Trustee and/or day to day assistance provided by support workers. Contact with the public trustee is once per fortnight or less $6,403.80
Level 6 Client is receiving personal financial administration assistance from the Public Trustee and contact with the public trustee is more than once per fortnight $8,966.60

Limited Administration Order

This service only applies to customers that have had QCAT or the Supreme Court ask us to manage a specific asset or income (i.e. damages awarded or settlements). This service does not include customers who have had QCAT or the Supreme Court ask us to manage their full finances.

Limited Administration Order fees and charges (QCAT)

The Limited Administration Order fees and charges are the same as the Personal Financial Administration fees and charges (see the table above) if QCAT asks us to manage a specific asset or income of yours. These fees range from $1,279.40 to $8,966.60 per year.

Limited Administration Order fees and charges (Supreme Court)

There is a once-off payment of $6,403.80 to set up your accounts with us for Limited Administration Orders if the Supreme Court asks us to manage a specific asset or income. Once the accounts are setup, there are ongoing fees based on the number of transactions we manage for you. These fees range from $679.75 to $5,101.65 per year.

Level of service Number of Transactions per year Fees per year (including GST)
1 0-5 $679.75
2 6-10 $1,191.35
3 11-30 $1,700.45
4 31-50 $2,212.00
5 51-80 $2,722.35
6 81-110 $3,231.35
7 111-150 $3,742.95
8 151-200 $4,254.55
9 Over 200 $5,101.65

2. Asset Management

We help manage certain assets so you receive the most benefit from them. Assessable assets that we help to manage could include:

  • Term deposits
  • Savings accounts
  • Bonds
  • Shares

Assets that are not included in the Asset Management service include:

  • Real estate property
  • Personal and household items
  • Motor vehicles
  • Personal jewelry

Asset Management fees and charges

We've found that generally the more valuable these assessable assets, the more time is involved to help manage them. These fees are based on the value of the assessable asset and range from $0.00 to $13,201.15 per year.

Value of assessable assets Fees per year (including GST)
$0 - $5,000 $0.00
$5,001 - $10,000 $193.35
$10,001 - $30,000 $288.95
$30,001 - $50,000 $584.25
$50,001 - $100,000 $777.90
$100,001 - $200,000 $1,261.75
$200,001 - $300,000 $1,939.20
$300,001 - $500,000 $2,718.55
$500,001 - $750,000 $3,882.45
$750,001 - $1,000,000 $5,823.10
$1,000,001 - $1,500,000 $7,570.25
$1,500,001 - $2,000,000 $9,412.85
$2,000,001 - $2,500,000 $11,355.50
Over $2,500,000 $13,201.15

3. (If applicable) Other service fees and charges

Real Estate Service

The fee for the real estate service is $962.60 per property per year. Our real estate services help maintain the properties that you own but do not live in as your main residence. The service includes:

  • dealing with any local council or government requirements
  • overseeing repairs and maintenance
  • organizing insurance and valuations

Specialised Services

An hourly rate of $258.75 is charged for specialised services that are needed for complex financial situations. Examples of specialised services include:

  • Dealing with overseas authorities
  • Buying or selling assets outside of Queensland
  • Administrating business related assets

Outlays

Outlays cover postage, faxes, phone calls and other administrative costs for the Financial Management service. These cost will change depending on your the situation.

Community Service Obligation

Part of our Community Service Obligations to Queenslanders is that the Financial Management fees will never cost more than 5% of your assessable assets' value. We will rebate your fees down to 5% of your assessable assets' value if the fees cost more than 5%. Call us on 1800 360 044 or contact us online to learn more about our Community Service Obligation rebate and if you're able to receive it.

Hardship

Another part of our Community Service Obligations is the hardship rebate. We check all new Financial Management customers when they start using our services if they meet the criteria for hardship. We also check our current Financial Management customers each year if they meet the criteria. We provide a large rebate to the Financial Management fees if you meet the criteria. Call us on 1800 360 044 or contact us online to learn more about hardship rebate, and if think you're able to receive it.

Examples of Financial Management customer's fees

Emma lives in Public Housing. She has a disability pension that is paid to the Public Trustee. Emma has $4,000 cash in a savings account. She is given a weekly allowance for her daily living expenses, and the Public Trustee manages the payment of her bills and board. Emma speaks with the Public Trustee more than once a fortnight.

Emma's yearly fees and charges will be:

Hannah lives in a Government funded aged care facility. Hannah's assessable assets include $250,000 in a term deposit, $50,000 in shares and $10,000 cash, totaling $310,000. The Public Trustee manages Hannah's payments to the aged care facility. Hannah speaks with the Public Trustee less than once a fortnight to update her bills.

Hannah's yearly fees and charges will be:

Peter lives in a property that he owns. He is paid a pension each fortnight that the Public Trustee manages. He has $6,000 worth of assessable assets and his property is worth $420,000. The Public Trustee manages his living expenses, utility bills and insurance. Peter only needs to contact the Public Trustee once a month.

Peter's yearly fees and charges will be:

Fees and Charges Document

All fees and charges shown are from The Public Trustee (fees and charges notice) (No. 1) 2019 [.pdf]

Contact Us

If you're experiencing financial hardship or have concerns, please call your Trust Officer on 1300 360 044 or contact us online.
Last published: 13/05/2020 1:24:56 AM