11Fees to administer trust

11 Fees to administer trust

11 Fees to administer trust

(1) This section applies when the NSW Trustee acts as a trustee for a trust.

(2) The NSW Trustee may charge the trust the following administration fees—

(a) a fee, payable once, based on the total value of the assets of the trust and calculated as follows—

(i) on the first $100,000—3.5%,

(ii) on the next $100,000—2.5%,

(iii) on the next $100,000—1.5%,

(iv) on an amount over $300,000—0.5%,

(b) an annual fee of 0.7% of the total value of the assets of the trust when the fee is calculated,

(c) fees for other work outside of the ordinary administration of the trust of 2.75 fee units per hour.

Examples—

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

(3) A fee under subsection (2)(b) is payable from—

(a) the capital of the trust property, or

(b) the income of the trust property, or

(c) both the capital and income of the trust property.