Capital commission (realised assets)
Calculated on the gross value of any assets realised during administration.
| Gross value of asset | Commission fee |
|---|---|
| Up to $500,000 | 3.3% |
| Greater than $500,000 and up to $1,000,000 | $16,500 plus 1.5% of the amount over $500,000 |
| Greater than $1,000,000 and up to $3,000,000 | $24,000 plus 0.55% of the amount over $1,000,000 |
| Greater than $3,000,000 | $35,000 plus 0.44% of the amount over $3,000,000 |
Income commission
Calculated on the gross income received during administration.
| Gross income received | Commission fee |
|---|---|
| Pension and allowances received from Centrelink and/or Department of Veterans Affairs | 3.3% |
| All other income | 6.6% |
| Under exceptional circumstances an hourly rate may be charged instead of commissions | $216 per hour |
| Temporary Order Administration | $216 per hour |
| Administration for Missing Persons | $216 per hour |
Capital commission (unrealised assets)
Calculated on the gross value of unrealised assets when administration ends.Â
| Gross value of asset | Fee |
|---|---|
| Any value | 2.2% |
Victorian Civil and Administrative Tribunal (VCAT) Examinations – Guardianship List
Examinations of Accounts by Administrator. Paid from the represented person’s funds. Minimum charge is one hour.Â
| Client assets valued between: | Fee |
|---|---|
| $0 and $25,000 | $0 |
| $25,001 and $69,000 | $86.70 per hour |
| $69,001 or more | $213.70 per hour |
- Disbursements: State Trustees is generally entitled to reimbursement from the client/estate for disbursements it incurs in providing its services. Disbursement charges include the cost of GST where applicable.
- Advances: Interest charged is no greater than the interest rate fixed under Section 2 of the Penalty Interest Rates Act 1983, less 2.5%
- Reduction or Waiver: State Trustees may reduce or waive its fees, commissions and charges at its discretion.
- Hourly Fee: Except where stated otherwise, all hourly fees are taken on a pro-rata basis. For any of its administrative services, other than those provided under court or tribunal appointments, State Trustees has the discretion to negotiate an hourly fee or alternative commission, in lieu of the commission to which it is otherwise entitled.
Some of State Trustees’ fees, commissions and charges are governed by Victorian legislation, including the State Trustees (State Owned Company) Act 1994 (Act), the Trustee Companies Act 1984 (in the form preserved by s 20A of the Act), Guardianship and Administration Act 1986 and the Guardianship and Administration Act 2019.
The full scale of charges is lodged with the Treasurer of Victoria and with the Director of Consumer Affairs Victoria, and published in the Victorian Government Gazette.
