Unit of competency Outline

Date retreived
21/07/2026 11:50 PM AWST

Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.

Administer a charitable trust

Administer a charitable trust

Unit of competency
National Code
FNSPRT508
State Code
AWF11
TGA Status
Replaced
DTWD Status
Replaced
Current Release Number
1.00
Current Release Date
14/01/2016
View on TGA
State Implementation and Classification
Approved Date
12/05/2016
Field of Education
081105 - Investment And Securities
Original Release Date
12/05/2016
Nominal Hours
55
Description
This unit describes the skills and knowledge required to establish and administer a charitable trust and to manage and monitor the charitable trust's assets.It applies to individuals who are proficient administrators in the personal trustee sector and have highly developed communication and financial management skills.Work functions in the occupational areas where this unit may be used are subject to regulatory requirements. Refer to the FNS Implementation Guide Companion Volume or the relevant regulator for specific guidance on requirements.
Notes
Elements and Performance Criteria
1. Create charitable trust file
  • 1.1 Identify type of charitable trust and the trust parameters from the trust instrument
  • 1.2 Identify relevant legislation and regulators in the charitable trust area
  • 1.3 Research and identify the specific rules and tax status that applies to various charitable entities
  • 1.4 Arrange specialist services and other resources to assist with management of complex issues as required
  • 1.5 Create charitable trust file according to legislative and organisational requirements
2. Establish and administer charitable trust
  • 2.1 Establish and prepare appropriate tools, practices and procedures to manage a charitable trust and to promote the charitable purpose stipulated in the trust instrument
  • 2.2 Review grant applications and respond to all applicants in accordance with organisational requirements
  • 2.3 Distribute trust funding to eligible beneficiaries and grant funding to successful applicants
  • 2.4 Prepare and submit information statements and financial reports as required by relevant regulatory agencies
3. Provide for ongoing management and administration of charitable trust
  • 3.1 Invest charitable trust assets in accordance with the trust instrument and the trustee's legal investment obligations
  • 3.2 Review the performance of the charitable trust's assets periodically to ensure suitability from a legal, taxation and long-term perspective
  • 3.3 Prepare and lodge a trustee tax return where required seeking assistance from specialists as necessary
  • 3.4 Manage the succession of a charitable trust where necessary
No information
No information
Replaced By
State Code National Code Title Type
OEB85 FNSPRT518 Administer charitable trusts Unit of competency
State Code National Code Title Type
AZH6 FNS42215 Certificate IV in Personal Trust Administration Qualification
AZJ5 FNS52015 Diploma of Personal Trusts Qualification