Trust tax changes timeline: the dates that matter from Budget night to 30 June 2030.

1. 7.30pm AEST on 12 May 2026

   Budget night

   The integrity date for testamentary trusts: property added to a testamentary trust after this time is not covered by its exclusion from the minimum tax.

2. 8 July 2026 to 31 July 2026

   Treasury consultation paper and submissions

   The first public outline of the measure and the first round of submissions.

3. 3 September 2026 to 18 September 2026

   Exposure drafts released and consultation closed

   Draft legislation for the minimum tax, the roll-over and the election, with fifteen days for comment.

4. 14 October 2026

   The Bills introduced to the House of Representatives

   The measure moves from draft to Bill. It is not law until both houses pass it and it receives Royal Assent.

5. 30 June 2027

   Proposed deemed disposal date under the CGT discount measure

   Assets held by individuals and trusts are treated as sold and reacquired, with the gain deferred; the 50% discount is preserved on the gain accrued to this date.

6. 1 July 2027

   Indexation replaces the CGT discount; the roll-over window opens

   Transfers of trust assets to a company, individual, partnership or fixed trust can qualify for the roll-over from this date, and not before.

7. Lodgment of the 2027-28 trust return

   First roll-over choice and progress notice

   The deadline for the roll-over choice where the first transfer happens in that year, and the first progress notice if the restructure continues into later years.

8. 1 July 2028

   The minimum tax would apply

   Income years starting on or after this date. The election window opens for trusts in existence on this date.

9. End of the trust's first income year starting on or after 1 July 2028

   Last day to make the fixed-share election

   With notice to the Commissioner in the approved form by the return deadline.

10. 30 June 2030

    The roll-over window closes

    Any required asset still in the trust forfeits the roll-over for every asset, including those transferred years earlier.

11. Four income years after the last transfer

    End of the discretion lookback

    The end of the period in which material discretionary elements in the company would deny the roll-over, and the period over which the Commissioner may reopen assessments connected to it.

Dates are as the Bills were introduced and will move if Parliament amends them. The CGT discount measure is a separate Bill with its own passage.