New South Wales Consolidated Acts

TRUSTEE COMPANIES ACT 1964 - SECT 19F

19F GST may be added to charges by trustee companies

(1) A trustee company may, in addition to any commission, fee or other charge payable to it or recoverable by it under this Act, charge or recover the amount of any GST payable in respect of services supplied by it as a trustee company that are covered by the commission, fee or charge.

(2) Nothing in this section permits a trustee company to charge or recover an additional amount that is greater than:

(a) 10% of the maximum amount payable to it or recoverable by it apart from this section, or

(b) the amount permitted under the New Tax System Price Exploitation law,

whichever is the lesser.

(3) This section has effect despite any other provision of this Act, or of any regulation made under this Act, limiting an amount that may be charged or recovered by a trustee company.

(4) The charging, or recovery, by a trustee company of an amount of GST payable before the commencement of this section in respect of services supplied or to be supplied by it as a trustee company is validated if that amount could have been charged or recovered had this section been in force.