Foreword

Hon Dr Tony Buti BPE DipEd MIR LLB 
Dr Phil MLA Attorney General

I provide this investigation report in response to your predecessor’s referral to the Charitable Trusts Commission of 17 July 2023.

Charitable Trusts exist in Western Australia within a wider social, economic and ethical milieu. They are a crucial element for self-determination by Aboriginal communities over funds to advance the interests of Aboriginal communities.

In keeping with modern approaches to social impact investing, it is conceivable that a social return on investment to an Aboriginal community, could be achieved through an investment that results in an economic loss to the trust. And to this end, a trustee would not necessarily be in breach of its duties by distributing trust funds for such a project. However, such a project would require the minimum, or a greater than usual level of due diligence to be exercised by the trustees.

The former CEO of the South West Aboriginal Land and Sea Council (SWALSC) proposed a plan to tackle homelessness and housing instability in the Noongar Community. It was open to the Board of SWALSC to support such an endeavour and for Equity Trustees (EQT) to make an investment in support of such a project, provided the requisite due diligence was undertaken. It was not and it is the trustee who must act in accordance with the trust deed.

EQT never had enough information, and certainly did not have it at the time the distribution was made, to be sure that the charitable objects of the Trust would be met when funding the purchase of various properties. EQT relied too heavily on the representations of the former Chief Executive Officer without independently and impartially considering the viability and net benefit of the project. The trustees owed to the Noongar people the obligation of examining the proposal in some depth. This obligation was not met.

I have therefore formed the view that EQT breached its duties as trustee of the Noongar Charitable Trust.

The Commission wrote to EQT and SWALSC on 12 August 2025 informing them of its findings and giving the entities until 15 September 2025 to provide submissions as to the quantum required to restore the Noongar Charitable Trust.

A further report will be provided by the Commission upon receipt and consideration of any submissions received.

Bevan Warner
Charitable Trusts Commissioner
11 August 2025