A full-service Native Title trust is typically set up by communities with large funds to manage. Many Aboriginal and Torres Strait Islander communities with smaller funds have been looking for ways to get the same vital investment, trustee, distribution and compliance services – but with lower costs and easier admin.
Now they have it.
The Perpetual Native Title and Community Trust
The Perpetual Native Title and Community Trust, or the Community Trust, is a charitable trust with Perpetual acting as trustee. It offers Aboriginal and Torres Strait Islander communities:
- the ability to invest their money for immediate and future needs – whether that’s education, health services, job-generating community businesses or cultural facilities
- an independent trustee to distribute funds in line with community wishes
- expert administration – Perpetual manages all the trust administration, compliance, auditing, tax and financial and regulatory reporting.
“Trusts are delivering real benefits to communities,” says John Hender, Senior Manager Native Title Trusts and Investments at Perpetual. “This new Community Trust structure extends many of those benefits to communities who were put off setting up their own trust by cost and complexity. It means they can build a long-term plan to invest their money in their people and their community.”
The new Community Trust offers the following benefits:
- low cost – unlike “traditional” trusts that are tailored from the ground up, the Community Trust is pre-established so there are no set-up fees and costs are predictable
- empowerment – the Community Trust empowers communities to make funding decisions. We work with communities on planning and budgeting to ensure their funds create a lasting impact and address their greatest needs
- easy to set up – stand-alone trusts may involve multiple sub-trusts and significant legal work, but an account within the Community Trust can be set up with a single form
- investment expertise – investment returns are key to the funding of community services over the long-term. The new Community Trust takes advantage of Perpetual’s expert investment management.
- scalability – community needs can change. An account within the Community Trust can last as long as it’s required – or it can roll into a new full-service trust if required.
Heard on the ground
“We pride ourselves on listening closely to community leaders,” says John Hender. “The genesis of this new idea – this new trust – came from conversations with people we knew in communities big and small. We’re looking forward to working with communities across Australia who want the benefits that come with a trust and seeing them deliver real benefits for their people.”
Like more information on Perpetual’s work with Aboriginal communities?
Perpetual has just released its 2016 – 2019 Stretch Reconciliation Action Plan – take a look.
This publication has been prepared by Perpetual Trustee Company Limited (PTCo) ABN 42 000 001 007 AFSL 236643. It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs. You should consider, with a financial adviser, whether the information is suitable for your circumstances.