4 KEEPING YOU AHEAD OF THE GAME: Will Planning in 2026: Why Testamentary Trusts Are Back in Focus A quiet measure in the Federal Government’s 2026–27 Budget could have real consequences for many Australian families who use “family trusts” (also called discretionary trusts). From 1 July 2028, the Government has announced a 30% minimum tax on discretionary trusts. Traditionally, these trusts have often worked as a “flow through” structure: the trust earns income and the trustee distributes it to beneficiaries, who then pay tax at their own marginal rates. This has allowed families (legitimately) to spread income among family members, including those on lower tax rates. Under the proposed reform, trustees will need to ensure at least 30% tax is paid on the trust’s taxable income. Beneficiaries (other than companies) will still receive credits for tax already paid by the trust, but if a beneficiary’s own tax rate is below 30%, they may not receive the full benefit of those credits. In practical terms, this may reduce the flexibility and tax effectiveness that made discretionary trusts so popular. There is, however, a standout exception that is changing estate planning conversations. In a Prime Ministerial media release dated 18 June 2026, the Government clarified that income from testamentary trusts (trusts created under a will and activated on death) will be exempt from the minimum tax, including future testamentary trusts. Beyond tax, testamentary trusts can offer added protection for inheritances by helping to shelter assets from relationship breakdowns, creditor claims, and risky spending decisions, while still allowing families to manage distributions over time. With these changes on the horizon, it is worth reviewing your Will and broader estate plan to ensure your assets will pass in the most appropriate way for your family—balancing control, protection and tax outcomes. For a review of your Will and other estate planning documents, contact Kauri Burgess at Aylward Game Solicitors, 2/20 Grice Avenue, Paradise Point QLD 4216. Email: mail@aylwardgame.com.au | Phone: 1800 217 217 see advertisement front cover RUNAWAY BAY LIONS CLUB COMMUNITY BLANKET APPEAL Runaway Bay Lions Blanket Appeal is now on at the Runaway Bay Centre. Each year Runaway Bay Centre shoppers donate blankets to support those in the local community doing it tough during the winter months. Thanks to this amazing generosity of donors, many homeless people and crisis care kids in our community will have more comfortable nights this winter. New blankets and doonas or clean used blankets and doonas can be deposited in the specially marked container in the main mall at Runaway Bay Centre until Friday 31st July 2026. All blankets collected will be donated to Rosies Friends on the Street, The Salvation Army, Friends with Dignity, Help the Homeless, Set Free Care & other local charities. If you are interested in volunteering at any Runaway Bay Lions Club Project or joining this wonderful group of people, contact can be made by email runawaybaylions@hotmail.com or ph 0403 049 535. WARMTH FOR ALL BLANKET APPEAL From now until Saturday 31st July, blankets can be placed in the collection box at Runaway Bay Centre near Specsavers. All blankets collected will be donated to local charities BIGGERA WATERS Commercial-Grade Dexter Laundry Equipment - At Biggera Waters Laundromat, we pride ourselves on using large commercial machines. These machines are designed specifically for commercial use around the world, ensuring reliability and performance. We offer several machine sizes to suit your needs, whether you want to complete a week’s worth of laundry or OPEN 24/7 See advert front page Hot washes are included FREE! wash your largest doona—all done in just 24 minutes. Emergency Stop Button - All our washers have an emergency stop button. If you see water running out of the machine it’s usually something stuck in the door. Simply press and hold the stop button for 3 seconds and when the buzzer stops you can open the door and pop the item back in the washer. Push the start button and it will restart the cycle. We are located at the METRO MARKET 33 Hollywell Road, open 24/7 for your convenience. For any assistance, please phone 1300 528 628.
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