20Fees for trust administration—the Act, s 111

20 Fees for trust administration—the Act, s 111

20 Fees for trust administration—the Act, s 111

(1) This clause applies to a trust for which NSW Trustee acts as trustee, either solely or jointly with another person.

(2) NSW Trustee may charge to the trust a fee for the administration of the trust that is—

(a) payable once only in relation to the assets of the trust, and

(b) calculated as follows, based on the value of the assets—

(i) 3.5% on the first $100,000,

(ii) 2.5% on the next $100,000,

(iii) 1.5% on the next $100,000,

(iv) 0.5% on an amount over $300,000.

(3) NSW Trustee may also charge to the trust an annual fee for the administration of the trust that is—

(a) calculated as 0.7% of the value, at the time the fee is calculated, of the assets of the trust, and

(b) payable from—

(i) the corpus or capital of the trust property, or

(ii) the income of the trust property, or

(iii) both the corpus or capital and the income of the trust property.

(4) NSW Trustee may also charge to the trust a reasonable fee for administration of the trust that NSW Trustee considers not part of the ordinary administration of the trust.

Example of administration that is not part of ordinary administration—

arranging or managing non-routine maintenance, repair, construction or development of trust property

(5) For subclause (4), the fee must not be more than 2.75 fee units per hour.

cl 20: Subst 2025 (124), Sch 1[11].