You can now have more trust in Queensland – significant changes to trust law

July 24, 2025

One of the most notable changes under the Property Law Act 2023 is the extension of the perpetuity period for trusts governed by Queensland law. Under the current law, the perpetuity period is limited to 80 years. However, from 1 August 2025, this period will increase to 125 years.

This means trusts may now hold property in Queensland for an extra 45 years providing greater flexibility for long-term estate planning and the management of trust assets, particularly for those seeking to establish trusts with extended durations.

Why is this important? There may be stamp duty and capital gains tax implications on the transfer of property to beneficiaries after a trust has vested. The extension of the perpetuity period means this complication may now be deferred another 45 years, allowing more time for planning.

Additionally, the Property Law Act 2023 introduces provisions allowing trustees to vary the vesting date of a trust to align with the extended perpetuity period. If the trust deed grants the trustee the power to amend the vesting date, this can be done unilaterally. In cases where the trustee does not have this power, all adult beneficiaries with full legal capacity may agree to execute a deed to vary the vesting date, provided it does not exceed the 125-year limit. Where this proves impractical, the trustee can apply to the Supreme Court of Queensland for an order to extend the vesting date of the trust.

The extension of the perpetuity period to 125 years modernises Queensland trust law, aligning it with contemporary estate planning needs. This change provides greater flexibility for long-term trusts, such as family trusts, which are often intended to benefit multiple generations. However, it is important to review the terms of your trust deed to determine whether any amendments may be necessary to take advantage of these new provisions.

What should trustees do now?
1. review existing trust deeds to make sure they are aware of the existing vesting date; and
2. consider whether it might be advantageous to add a further 45 years to the lifespan of the trust.

If you would like to discuss how these changes may impact your trust or require assistance in reviewing or amending your trust deed, please contact our commercial team on 07 4671 6000.