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4G. Fees and charges
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A trustee is entitled to a fee for administering your bankruptcy.
Where the Official Trustee is the trustee of the administration, the fee is set by legislation and is generally based on a percentage of the funds realised*. The fee is not recoverable directly from you unless you are seeking an annulment of the bankruptcy.
Where a registered trustee is the trustee of the administration, the fee is generally based on an hourly rate. Where there are insufficient funds in an administration, a registered trustee can recover a statutory minimum fee*.
Funds realised by a trustee in an administration are subject to a realisations charge* (a government levy) which is paid by the trustee directly to the government. Any interest earned on funds recovered by the trustee is payable to the government.
*Please see ITSA’s fees and charges on page 22 [ITSA's Fees and Charges] or visit the ITSA website at www.itsa.gov.au.
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