Australia: Trusts

On Tuesday, 12 May 2026, the Treasurer, Dr Jim Chalmers, handed down the 2026–27 Federal Budget. The Federal Budget introduces the most significant tax reforms aimed at reshaping how income and wealth are taxed in Australia. The Government is seeking to rebalance the system by reducing tax on income from work and increasing tax on income from assets, and then using that difference to fund personal tax relief and influence housing behaviour.

Queensland pharmacy business owners face a critical 2 November 2026 deadline to apply for QPBOC licensing under the new Pharmacy Business Ownership Act 2024. Many ownership structures involving discretionary trusts, companies, or non-practising pharmacists may be non-compliant, yet waiting to restructure before applying could prove costly. Understanding the material interest requirements, compliance pathways, and strategic advantages of early application is essential for protecting your pharmacy business.

The Federal Government’s proposed changes to the taxation of discretionary trusts may create one of the most significant small business restructuring opportunities seen in years. Assuming, of course, the legislation survives the usual process of political compromise and lobbying.

In this episode of It Depends, associate Sacha Robinson explains how to choose the right jurisdiction for your trust.

This year’s Budget proposes changes to negative gearing, capital gains tax, discretionary trusts, tax deductions and housing policy. These changes could affect valuations, tax advice, settlement structures...

Family Trusts are widely used in Australia to hold property, operate businesses and manage family wealth. Many individuals believe that placing assets in a trust automatically protects them from a property settlement if a relationship breaks down. However, under the Australian Family Act, the reality is more complex.

Legislative mechanisms in place in regard to beneficiaries who are not ordinarily resident in Australia and considering a change in trusteeship.

A former trustee is not owed any fiduciary obligation by a successor trustee.

Bendel is an intriguing case that will have further developments.