If you or your practice (in any form) receives trust money that is required to be deposited in a trust account, you must establish and maintain a general trust account in this jurisdiction with an approved authorised deposit-taking institution (ADI).
The Law Society of South Australia has resources and information pertaining to Trust Accounts, which can assist legal practitioners in complying with the relevant legislation.
Trust Account Management Online Resource
The Trust Account Management Online Resource (TAMOR) is the central information point for all matters relating to trust accounting. The content has been developed to assist practitioners apply the relevant legislation in daily practice, with relevant narrative and best practice, but the content does not replace the legislation or common law.
Members, Practitioners and South Australian Law Practice Employees are automatically provided free access to this resource via their Law Society website login. If you are employed at a Law Practice and do not have login details, please email reception@lawsocietysa.asn.au to request access. If you do not work in a South Australia Law Practice, you can purchase the online content here.
Click here to access the TAMOR
Online Trust Accounting Software
The Society’s own Online Trust Accounting Software is an online trust recording system designed for law practices to use anytime, anywhere. It is a simple and cost-effective solution to enhance effective practice management. Application forms, software demos and training videos can be downloaded directly from the Trust Accounting Online page.
The software is currently only available to Firm Members; a law firm where at least 75% of its Legal Practitioners are Members of the Law Society. More information on the key features, cost, requirements and how to apply for the software can be found here.
Click here for the Online Trust Accounting Software
Trust Accounting Courses
Both Member and Non-Members can access the Law Society's Trust Accounting Courses. These courses are delivered online and contain modules for legal practitioners and accounts staff who are new to trust accounting, need to refresh their knowledge or want to learn about the requirements to comply with the Legal Practitioners Act 1981 in relation to Combined Trust Accounts.
The courses include: Trust Accounting I, Trust Accounting II, Combined Trust Account and the Rule 15 Trust Accounting Refresher Course and are eligible for CPD units in Practice Management/Business Skills.
Click here for the Trust Accounting Courses
Combined Trust Account Calculator
The Combined Trust Account Calculator (CTA Calculator) is available for use by Members, Non-Members and law firm staff.
When used correctly, the CTA Calculator can assist legal practitioners comply with the Legal Practitioners Act 1981 in relation to deposits for the periods ending 30 November and 31 May each year, which require your action by the time critical dates of 14 June and 14 December in each year.
To learn more, the Law Society's Combined Trust Account online course outlines what is required to comply with the requirements.
Click here for the CTA Calculator