When GST does not apply
Most fees are GST-exempt when QPT is appointed as your:
- financial administrator or manager by a court, tribunal or under legislation
- financial attorney under legislation during a period of suspension of an enduring power of attorney.
For these customers, the following QPT fees are not subject to GST:
- personal financial administration fee
- asset management fee
- real estate property fee
- additional service fee
- professional services fee.
When GST does apply
Your fees will be subject to GST if you appointed QPT yourself under:
- a general power of attorney
- an enduring power of attorney.
Even if you later lose capacity, GST still applies because this was a voluntary arrangement.
Fees that always include GST
All customers pay GST on fees from third party providers and for other QPT services.
This includes:
- investment fees for services charged by third-party providers
- incidental outlays including everyday admin costs
- third-party outlays, such as plumbers or pest inspection
- trust administration service fees
- deceased estate administration service fees.
Commonwealth legislation
GST exemptions are provided by Commonwealth legislation which sets out the basis for the exemption. Under Division 81 of the A New Tax System (Goods and Services Tax) Act 1999 (Cth) (GST Act) certain fees and charges are exempt from GST.
QPT may alter the GST tax treatment of any fee or charge in accordance with any changes to the GST Act.