PUBLIC TRUSTEE OFFICE

59 Mrs REDMOND (Heysen) (31 July 2007).

1. How will the Office of the Public Trustee achieve an expected $1.6 million dividend for the Government in 2007 08?

2. How are complaints against the operations of the Office managed?

The Hon. M.J. ATKINSON (Croydon—Attorney-General, Minister for Justice, Minister for Multicultural Affairs): I have been advised:

1. For the year ended 30 June, 2008, the proposed dividend payable by the Public Trustee is $1.479 million, which is lower than the State Budget figure in 2007-08 of $1.636 million.

Each financial year, Public Trustee pays the dividend from retained earnings after payment of tax equivalents to Treasury.

The method used to calculate the dividend payment is set out in accordance with Section 48 of the Public Trustee Act 1995.

The Public Trustee consults the Attorney-General as to whether a dividend should be paid to the Treasurer and if so, the amount of the dividend. The agreed dividend takes into account the capital adequacy needs of the Public Trustee. Capital adequacy is a guiding ratio that reflects the total equity of the Public Trustee relative to the total funds under administration.

Public Trustee expects that it will be able to meet the proposed dividend payment for the 2007-08 year.

2. The Public Trustee's Resolution of Disputes Policy is available to clients, Members of Parliament and any person seeking this information.

It is provided to clients as part of the Public Trustee's Standards of Service brochure. It is also available from the Public Trustee website:

http://www.publictrustee.sa.on.net/pdf/FactSheets/StandardsofServiceFactSheet.pdf

Public Trustee has Complaint Management Principles and an internal standard on handling complaints and commendations, which is attached.