Trusts and pre-1985 assets add further complexity
The reform also intersects with other changes already in train. A 30% minimum tax on discretionary trusts takes effect from 1 July 2028, adding a further layer for property held in family trust structures, though testamentary trusts are excluded from that measure. Pre-1985 properties, previously exempt from CGT altogether, will also become taxable on growth from 1 July 2027 onward, making a valuation at that date essential given there is no original purchase price to reference.