CORPORATIONS ACT 2001

CHAPTER 5D - LICENSED TRUSTEE COMPANIES  

PART 5D.3 - REGULATION OF FEES CHARGED BY LICENSED TRUSTEE COMPANIES  

Division 4 - Fees for being trustee or manager of a charitable trust  

Subdivision A - New client charitable trusts  

SECTION 601TDC   OPTION 1: CAPITAL COMMISSION AND INCOME COMMISSION  

601TDC(1)   One-off capital commission.  

The trustee company may charge a capital commission (GST inclusive) at a rate not exceeding 5.5 % of the gross value of the charitable trust's assets.

601TDC(2)   [ Commission to be charged once only]  

The capital commission must be charged only once during the period while the trustee company is trustee or manager of the charitable trust.

601TDC(3)   [ Regulations relating to capital commission]  

The regulations may make provision relating to the capital commission, including (but not limited to):


(a) the calculation of the commission or of the gross value of the charitable trust's assets; and


(b) when, during the period referred to in subsection (2), the commission may be charged.

601TDC(4)   Annual income commission.  

The trustee company may charge an annual income commission (GST inclusive) at a rate not exceeding 6.6 % of the income received on account of the charitable trust's assets.

601TDC(5)   [ Regulations relating to income commission]  

The regulations may make provision relating to the income commission, including (but not limited to):


(a) the calculation of the commission or of the income received on the charitable trust's assets; and


(b) when, during a year, the commission may be charged; and


(c) apportionment of the amount of the commission for part-years.


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