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Commission Estimator

Enter Estate Value:  

The commission is:  

The approximate commission rate is:  

  

Before you start

Before you use this estimator you need to work out the value of the estate. You need to determine what assets are involved and their approximate values.

  • Real Estate
  • Motor Vehicles
  • Boats/ Caravans/ Motor cycles
  • Bank Accounts
  • Term Deposits
  • Shares
  • Other Investments
  • Furniture & Effects
  • Collectibles
  • Other Assets

Please note that the value of the estate does NOT include:

  • any property/assets held in joint names where the joint holder is still alive
  • any superannuation that will be paid directly to the beneficiary named in the superannuation schedule by the trustee of the super fund

How to use the Estimator

  • Once you have estimated the value of the estate enter this in the box labelled “Enter Estate Value:” (This number should be greater than $5,000 and should not contain any symbols, spaces, or commas.)
  • Then press either the click on “Calculate” button on the screen, or press the “Enter” or “Tab” key on your keyboard.
  • The “Estimator” will display the commission and appropriate rate immediately.
  • You can re-enter as many new values as you like by deleting the old value in the “Enter Estate Value” box or by clicking on the “Clear” button on the screen and entering new numbers.

Please note: The commission estimator is to be used as a guide only to the capital commission charged for the administration of a deceased estate. The values used to form the estimated value are likely to have changed by the time of your death.

Note also that other fees & charges may be applicable in addition to capital commission, including other Public Trustee fees and fees charged by other organisations as part of the administration. Please contact us on (08) 8226 9200 if you prefer to talk to someone about the fees and charges rather than using the commission estimator.

Capital Commission Explained

Please see below an example of how we calculate capital commission based on the value of estate assets.

Jane’s estate assets were valued at $650,000 at the time she died.

The home Jane lived in was not included when calculating the gross capital value as the home was held in joint names by Jane and her husband. The home passes directly to her husband who survived her.

Jane had a bank account in her own name worth $150,000. She also had a car in her own name worth $50,000. Jane had another property which she owned in her own name worth $300,000, and also had some other investments which totalled $150,000. So, excluding the jointly owned family home, her personal assets were worth $650,000.

When we applied the tiered commission rate the estate was charged $20,350.

The fourth level of capital commission (see chart in Executor Services & Trusts heading above) was applied as the estate was valued over $600,000 (as shown):

Value of Estate Assets Commission Rate OR Commission ($) on estate value (includes GST)
$600,001 + 1.1% $19,800 plus 1.1 cents for every dollar above $600,000

To calculate the capital commission on Jane’s assets of $650,000 we therefore take the sum of:

  • $19,800 (as the assets are over $600,000)
  • $550 (1.1% of the value above $600,000, in this case $50,000)

Jane’s estate was charged $20,350 for the administration. There were other fees including Probate application, advertising, tax preparation fees, and an administration and audit fee. There were also fees paid to the real estate agent, valuer, and conveyancer when Jane’s property was sold.

Jane’s family were not required to pay the commission of $20,350 to us as the amount due was simply deducted from the estate prior to the distribution of money to the beneficiaries of Jane’s Will.

We don’t charge a separate fee for letters or phone calls, and so Jane’s family did not have to worry about additional and unexpected costs.

Value at Jane’s Death Value for commission purposes Commission
Assets in Joint Names
Family Home $500,000 $0 $0
Assets in Own Name
Bank Account $150,000 $150,000 $6,600 4.4% of $150,000
Car $50,000 $50,000 $2,200 4.4% of $50,000
Real Estate $300,000 $300,000 $6,600 3.3% of $200,000
$3,300 2.2% of $100,000
Total Capital Commission $20,350 3.13%

Before you start

Before you use this estimator you need to work out the value of the estate. You need to determine what assets are involved and their approximate values.

  • Real Estate
  • Motor Vehicles
  • Boats/ Caravans/ Motor cycles
  • Bank Accounts
  • Term Deposits
  • Shares
  • Other Investments
  • Furniture & Effects
  • Collectibles
  • Other Assets

Please note that the value of the estate does NOT include:

  • any property/assets held in joint names where the joint holder is still alive
  • any superannuation that will be paid directly to the beneficiary named in the superannuation schedule by the trustee of the super fund

How to use the Estimator

  • Once you have estimated the value of the estate enter this in the box labelled “Enter Estate Value:” (This number should be greater than $5,000 and should not contain any symbols, spaces, or commas.)
  • Then press either the click on “Calculate” button on the screen, or press the “Enter” or “Tab” key on your keyboard.
  • The “Estimator” will display the commission and appropriate rate immediately.
  • You can re-enter as many new values as you like by deleting the old value in the “Enter Estate Value” box or by clicking on the “Clear” button on the screen and entering new numbers.

Please note: The commission estimator is to be used as a guide only to the capital commission charged for the administration of a deceased estate. The values used to form the estimated value are likely to have changed by the time of your death.

Note also that other fees & charges may be applicable in addition to capital commission, including other Public Trustee fees and fees charged by other organisations as part of the administration. Please contact us on (08) 8226 9200 if you prefer to talk to someone about the fees and charges rather than using the commission estimator.

Capital Commission Explained

Please see below an example of how we calculate capital commission based on the total value of assets under administration.

Please see below an example of how we calculate capital commission based on the total value of assets under administration.

Barry’s assets were worth $400,000 at the time that we were appointed as administrator of his financial affairs under a SACAT order. Barry lived in his own home worth $300,000. He had a bank term deposit worth $50,000 as well as $20,000 in a savings account. He had a car valued at $20,000. His furniture and household items were worth $10,000.

Barry’s health meant that he needed to move from his home into an aged care facility, and so it was necessary for his house, car, and furniture to be sold. His bank account and term deposit were closed and the proceeds paid to us to enable us to use some of the funds to pay his immediate expenses, and to invest the remainder to ensure his future requirements would be taken care of.

When we applied the tiered commission rate the estate was charged $15,400.

The third level of capital commission (see chart in Personal Financial Administration heading above) was applied as the estate was valued over $400,000 (as shown):

Value of Estate Assets Commission Rate OR Commission ($) on estate value (includes GST)
$200,001 – $400,000 3.3% $8,800 plus 3.3 cents for every dollar above $200,000 up to $400,000

To calculate the capital commission on Barry’s assets of $400,000 we therefore take the sum of:

  • $8,800 (as the assets are between $200,000 and $400,000)
  • $6,600 (3.3% of the value above $200,000, in this case $200,000)

Barry’s estate was charged $15,400.00 for the administration. There were other fees that included income commission, tax preparation fees, and an administration and audit fee. There were also fees that were paid to the real estate agent, valuer, and conveyancer when Barry’s property was sold.
Neither Barry nor his family were required to pay the commission of $15,400 to us. The amount was simply deducted from the funds received when Barry’s assets were sold or cashed in (e.g. when Barry’s bank accounts were closed).

Value of Barry’s Assets Commission
Assets
Home $300,000 $8,800 4.4% of $200,000
$3,300 3.3% of $100,000
Bank Account $20,000 $660 3.3% of $20,000
Term Deposit $50,000 $1,650 3.3% of $50,000
Car $20,000 $660 3.3% of $20,000
Furniture & Effects $10,000 $330 3.3% of $10,000
$3,300 2.2% of $100,000
Total Capital Commission $15,400 3.85%