Have your say on proposed changes to fees and charges
20 February 2024
Improved billing transparency and fee reductions, which will assist with cost-of-living pressures, are part of a raft of changes under consideration by Queensland Public Trustee (QPT).
Public Trustee of Queensland Samay Zhouand said these proposed changes are part of our Customers First Strategy, which has been delivering benefits to customers by listening to their feedback and prioritising their needs.
“Our customers and stakeholders have told us that they want a simpler fee structure,” Mr Zhouand said.
“Before implementing any changes to QPT fees, we are seeking feedback from the public through consultation.
“The consultation focuses on key service areas of financial management, deceased estates and trust administration as a priority for reform.
“The aim is to balance public interests with the cost of delivering services to ensure fees are fair, while considering QPT’s ongoing financial sustainability.”
The proposed changes to financial management fees were referred to in the Public Advocate’s report, Preserving the financial futures of vulnerable Queenslanders: A review of Public Trustee fees, charges, and practices.
The report addressed issues related to the price of fees for personal financial administration and the charging methodology for asset management services.
The release of the consultation paper will further progress QPT fee reforms and also deliver on a recommendation from the Disability Royal Commission that public trustees should review their fees and charges.
“There is a proposed increase for fees for some of our trust and deceased estate customers to better recover the cost of delivering these services, but they will remain the lowest in the market,” Mr Zhouand said.
“We recognise that Queenslanders are facing financial challenges with the cost-of-living crisis, therefore, we are not proposing to charge for will-making services at this time. We do however, welcome feedback from the Queensland community as part of the consultation process.
“This is a great opportunity for Queenslanders to have their say.”
You can do this by providing a formal written submission by email or post to QPT by Wednesday, 3 April 2024.
More information, including the full public consultation paper is available at www.pt.qld.gov.au
Media enquiries: media@pt.qld.gov.au