11Fees payable to NSW Trustee and Guardian—the Act, s 32D

11 Fees payable to NSW Trustee and Guardian—the Act, s 32D

11 Fees payable to NSW Trustee and Guardian—the Act, s 32D

(1) For the Act, section 32D(2), the following fees are prescribed—

(a) an amount equal to 2.5% of the value of the interest in the property as determined in accordance with subsection (2),

(b) an amount equal to the actual costs incurred and disbursements made in relation to the interest in the property by the NSW Trustee and Guardian,

(c) for an interest in property from which income is derived—in addition to the fees set out in paragraphs (a) and (b), an amount equal to 5.25% of the gross income derived from the interest in the property.

(2) The value of the interest in the property referred to in subsection (1)(a) is—

(a) the value determined by the NSW Trustee and Guardian, or

(b) if the interest is disposed of by sale, the gross amount realised on the sale.

(3) The costs and disbursements referred to in subsection (1)(b) include the following—

(a) legal representation costs,

(b) costs of obtaining legal advice,

(c) other legal costs,

(d) agents’ fees,

(e) valuation fees,

(f) costs and expenses incurred in relation to the operation of a business associated with the interest in the property.

(4) This section does not prevent the NSW Trustee and Guardian from waiving or reducing a fee the NSW Trustee and Guardian is entitled to deduct under this section.