A T O home
Legal Database
Search   
for 
 
Access the database 
Browse database
Searches  
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version
Printable
version

CORPORATIONS ACT 2001

CHAPTER 5D - LICENSED TRUSTEE COMPANIES    View history reference

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

[CCH Note: SLI 2010 No 88, reg 4, contained the following transitional arrangements:

4 Transitional arrangements for charging of fees  


(1) For section 1496 of the Act, Part 5D.3 (other than Division 4) of the Act applies to a licensed trustee company as set out in this regulation.


(2) If a licensed trustee company had an existing client at the commencement of Schedule 1 to these Regulations, the fee the company was entitled to charge under the relevant State law for traditional trustee company services to the client continues to apply to those services whether or not the relevant State law has since been repealed.


(3) In this regulation, a relevant State law is a law of a State or Territory in force immediately before the commencement of Schedule 2 to the Corporations Legislation Amendment (Financial Services Modernisation) Act 2009 that regulates the fees that may be charged by companies for the provision of traditional trustee company services.

]

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

Subdivision A - New client charitable trusts    View history reference

SECTION 601TDC  OPTION 1: CAPITAL COMMISSION AND INCOME COMMISSION  

 View history reference

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.


 



This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page