The NSW Trustee and Guardian Regulation 2008 sets out the fees NSW Trustee and Guardian can charge. Details of NSW Trustee and Guardian’s new fee structure (from 1 April 2009) are given below.

INVESTMENT FEE
For the management of an investment for a managed person in an NSW Trustee and Guardian investment fund NSW Trustee and Guardian charges:

0.5% per annum of the value of the investment.

Funds held as security are invested in NSW Trustee and Guardian’s investment funds and attract the
Investment Fee.

The Investment Fee is calculated daily and deducted from the funds as a whole at the end of the month.

INCOME FEE
On the net annual income of a managed person in respect of whom a manager has been appointed NSW Trustee and Guardian charges 4% per annum.

The income fee is capped at $2,000.00 p.a.

Interest earned on funds held as security is included as income.

EXEMPTED INCOME
Centrelink, Department of Veterans’ Affairs and any overseas pension (equivalent to a Centrelink pension) income up to the level of the Centrelink Single Aged Pension is exempt from the 4% income fee. Any allowance relating to Centrelink and Department of Veterans’ Affairs pensions is also exempt from the 4% income fee e.g. pharmaceutical allowance, mobility allowance, rent assistance and telephone allowance.

This concession only applies in respect of annual accounts lodged whilst the managed person is alive and provides relief to those managed persons who might otherwise suffer financial hardship if such a concession was not provided. However, the above concession does not apply in respect of annual accounts lodged following the death of a managed person as the payment of fees raised would no longer cause a financial hardship on the late managed person.

ACCOUNTS FEE (from 1 July 2009)
These fees reflect the complexity of examination of the accounts.

$100 for simple accounts
$200 for medium accounts
$300 for complex accounts

FINANCIAL PLAN FEE
No fee is charged for the preparation of a financial plan except in circumstances where a plan is particularly complex. However if the manager invests the funds according to the plan prepared by the NSW Trustee and Guardian Financial Planning Unit the preparation fee will be reimbursed in total.

NSW Trustee and Guardian also charges, in addition to the above fees, any GST payable in respect of the service for which the fee is payable.