Australia’s New Merger Laws Are Now in Force: What Business Owners Need to Know

Australia’s New Merger Laws Are Now in Force: What Business Owners Need to Know

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Australia’s New Merger Laws Are Now in Force: What Business Owners Need to Know

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3 min read

10 Sep 2026

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    Key Takeaways
  • ࠂ
    Mandatory ACCC notification has applied since 1 January 2026 to acquisitions that meet the relevant thresholds and are not exempt.
  • ࠂ
    Further requirements for certain asset acquisitions and share acquisitions resulting in specified voting-power increases commenced on 1 April 2026. The voting-power requirements apply only where the general notification thresholds are also met.
  • ࠂ
    A notifiable acquisition cannot be completed until ACCC approval is obtained or a notification waiver is granted.
  • ࠂ
    The Phase 1 notification fee is $56,800 for 2026-27, while Phase 2 fees can be significantly higher.
  • ࠂ
    Early advice can help businesses work out whether notification is required and build realistic timing and costs into the deal.

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Australia’s merger laws changed significantly on 1 January 2026. For acquisitions that meet the notification thresholds, businesses must now notify the Australian Competition and Consumer Commission (ACCC) and obtain clearance before the deal can proceed.

Since the new regime began, further asset and voting-power thresholds have commenced and the ACCC has updated its guidance based on the first months of operation. If you are buying a business, shares or assets, merger clearance now needs to be considered early - not just before completion.

What’s Changed on 1 January 2026?

Australia moved from a largely voluntary merger clearance system to a mandatory regime. If an acquisition is within scope, meets a notification threshold and no exemption applies, the parties must notify the ACCC and wait for clearance before completing.

The rules apply broadly to acquisitions of shares and assets. They can also capture a series of smaller acquisitions over time.

New from 1 April 2026: asset and voting-power thresholds

The merger regime was expanded further on 1 April 2026, introducing additional notification requirements that businesses need to consider when assessing a proposed acquisition. These changes apply to:

  1. Certain asset acquisitions

Some acquisitions of assets that do not comprise all or substantially all of a business may now require notification where the relevant acquirer-revenue and transaction-value thresholds are met.

  1. Changes in voting power

Additional rules can apply to certain increases in voting power. The precise trigger differs according to the type of target entity, the acquirer’s existing voting power and whether the acquirer controls the target. For example, this can include an increase from 20% or less to more than 20% in an unlisted company that is not widely held, or an increase from more than 20% but less than 50% to 50% or more in a body corporate. Not every increase in voting power above 20% automatically requires notification.

Do You Need to Notify the ACCC?

The thresholds are not simply a single dollar test. The main tests are generally summarised below:

Threshold When it may apply Key figures
Large merged firm The combined Australian revenue of the parties is substantial and the target revenue or transaction-value limb is met. Combined Australian revenue of at least $200m AND the:·         target Australian revenue is at least $50m; OR·         global transaction value is at least $250m
Very large acquirer A very large Australian business acquires a smaller target. Acquirer group Australian revenue is at least $500m AND target Australian revenue is at least $10m
Serial acquisitions Relevant acquisitions during the preceding
3 years may be aggregated where they predominantly involve the same or substitutable goods or services.Note: The ACCC’s August 2026 FAQs confirm that qualifying acquisitions completed before 1 January 2026 may be counted but acquisitions with target Australian revenue below $2m are excluded.
Ordinary $200m combined-revenue or $500m acquirer-revenue limb must still be met (subject to exclusions).  That is the accumulated target Australian revenue is at least $50m (large merged firm) or $10m (very large acquirer).
Certain asset acquisitions From 1 April 2026, some asset acquisitions that are not all or substantially all of a business can be caught. Applies where the acquirer group has Australian revenue of at least $200m AND:·         global transaction value is at least $200m; OR·         Australian revenue is at least $500m AND global transaction value is at least $50m

Important: Where one or more of the notification thresholds above are met, notification is only required if the target is connected with Australia and no exemptions apply.  Meeting a monetary threshold is only part of the analysis.  Every transaction needs to be considered on its own facts. The Australian connection, exemptions, transaction structure, voting power and previous acquisitions may also matter. 

What about Exemptions?

Some transactions are exempt even if a threshold would otherwise be met. Exemptions cover particular land and financial-market transactions, internal restructures, acquisitions by external administrators and other specified arrangements.

The practical message? Do not assume a deal is outside the regime because it involves assets, a minority interest or a smaller target. Check the rules early.

The Application Process

For a transaction that may need ACCC clearance, the process can be viewed in four steps:

 

ACCC-Flow-Chart

Which Pathway Should You Use?

For straightforward transactions, the ACCC says the short notification form will be appropriate in most cases. A long form is more likely to be needed where there is greater competition risk or complexity.

A notification waiver may be available for a transaction that technically meets a threshold but clearly does not raise material competition or consumer concerns. If granted, the waiver removes the obligation to lodge a formal notification. A waiver application is not simply a preliminary step before a formal notification, and businesses should choose the pathway that best fits the transaction. If the ACCC does not decide a waiver application within 25 business days, it cannot grant the waiver and is considered a deemed refusal.

Pre-notification discussions are optional but can be useful for complex deals or where the information requirements are unclear. The FAQs also confirm that parties may be able to notify on the basis of a sufficiently developed Heads of Agreement rather than waiting for every transaction document to be finalised.

How long can the ACCC review take - and what does it cost?

Stage Timing What it means 2026-27 fee
Pre-notification discussion No set timeline Allows parties to provide draft notification application and transaction documents to identify if further information is needed.ACCC recommends parties initiate this process at least 2 weeks before formal notification for acquisitions that clearly do not raise material concerns.If no determination is made in 25 business days, the application will be deemed to be denied. $8,300
Phase 1 Up to 30 business days* Initial review of application lodged.  Most transactions are expected to be resolved here. Earliest approval is generally in
15 business days.  Merger will either be cleared in this phase or progress to Phase 2.
$56,800
Phase 2 Up to a further 90 business days* A deeper review where competition concerns require further assessment. At the end, the merger can be put into effect with or without conditions or be blocked by the ACCC. $475,000 to $1.595m (additional fee, depending on transaction value)
Public-benefit application
(where available)
50 business days* Optional application. Only available after the ACCC has either not approved the acquisition or approved it subject to conditions. Must be made within 21 calendar days after the relevant ACCC decision. $401,000

* Statutory periods can be extended or adjusted in certain circumstances or unilaterally varied by the ACCC.

One Timing Trap to Remember

ACCC approval does not always mean the transaction can complete immediately. There is generally a 14-calendar-day period after the ACCC publishes its reasons before completion can occur, allowing time for an application to the Australian Competition Tribunal. An approved acquisition generally also needs to be completed within 12 months of the ACCC’s decision.

What’s Happening in Practice

The ACCC’s half-year results give businesses some useful comfort. From 1 January to 30 June 2026, it received 145 merger notifications and 286 notification waiver applications. It approved 115 notifications in Phase 1, with 6 notifications progressed to Phase 2 for a more in-depth assessment.

The ACCC also reported that 92% of acquisitions were decided within 20 business days through either an early Phase 1 decision or a notification waiver. That is encouraging, but businesses still need to allow time before lodgement to assess thresholds, prepare the application and deal with information requests.

Four Things to do Before Your Next Acquisition

1. Check the ACCC notification rules early, while the deal structure and timetable are still being developed.

2. Look at the parties’ Australian revenue, transaction value and relevant acquisitions made during the previous 3 years and consider whether the April 2026 asset or voting-power rules apply.

3. Build ACCC timing, fees and the post-approval waiting period into the transaction documents and completion plan.

4. Get advice before assuming an exemption or notification waiver will apply.

The Bottom Line

The new merger regime is now part of doing deals in Australia. For many acquisitions, the ACCC process will be straightforward. But if notification is required, getting the timing or threshold analysis wrong can delay completion and add significant cost.

The best approach is to consider merger clearance at the start of the transaction, so you know what is required before the deal gathers momentum.

Planning an Acquisition? Talk to Us Early.

If you are buying a business, shares or assets, getting the ACCC analysis right from the outset can save time, cost and uncertainty later.

Our Hillhouse Corporate & Commercial team can help you assess whether notification is required, identify the right ACCC pathway and structure the transaction around a realistic approval and completion timetable.

Contact Vicki Yeung, Senior Associate or Malcolm Chan, Associate, to discuss your proposed acquisition before you commit to the deal timetable.

E: vicki@hillhouse.com.au or malcolm@hillhouse.com.au

P: 07 3220 1144

This article is general information only and reflects the position as at September 2026. It is not legal advice. Merger notification requirements are transaction-specific and may change.

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AI in Healthcare: Managing Privacy, Legal & Compliance Risks

AI in Healthcare: Managing Privacy, Legal & Compliance Risks

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AI in Healthcare: Managing Privacy, Legal & Compliance Risks

Author: Craig Hong

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3 min read

20 Aug 2026

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    Key Takeaways
  • AI can improve efficiency and patient care, but healthcare professionals remain responsible for protecting patient information and meeting their legal and professional obligations.
  • Practices should understand how AI providers collect, store and use patient data, and ensure their privacy policies and patient consent processes reflect their use of AI.
  • AI should support, not replace, professional judgement, with appropriate governance, cybersecurity safeguards and oversight in place.

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"Artificial Intelligence is transforming healthcare, offering significant opportunities to improve efficiency and patient care. However, innovation must be supported by strong governance, robust privacy practices and sound clinical judgement. Understanding your legal obligations before implementing AI is essential to protecting your patients, your practice and your reputation."

Craig Hong - Director, Hillhouse Legal Partners

Artificial Intelligence (AI) is rapidly changing the way healthcare is delivered. From AI-powered clinical scribes and practice administration to diagnostic support and patient communications, AI is helping healthcare professionals improve efficiency, reduce administrative burden and enhance patient care.

However, these technologies also introduce important legal, privacy and compliance obligations. Healthcare professionals, practice owners and healthcare businesses remain responsible for protecting patient information, obtaining appropriate consent, complying with privacy legislation and ensuring AI supports, not replaces, professional judgement.

This fact sheet outlines the key legal considerations every healthcare professional should understand before implementing or expanding the use of AI.

How AI Is Being Used in Healthcare

AI is increasingly being integrated into both clinical and administrative functions, including:

Practice Administration

  • AI clinical scribes and consultation transcription
  • Appointment scheduling and workflow management
  • Billing and administrative support
  • Patient communications

Clinical Support

  • Diagnostic assistance
  • Clinical decision support
  • Identification of potential medication interactions
  • Medical imaging analysis

Research & Innovation

  • Clinical research
  • Drug discovery and development
  • Analysis of large health datasets

While AI can significantly improve efficiency, it also creates new legal, privacy and governance responsibilities for healthcare professionals and healthcare businesses.

Key Legal Considerations Before Introducing AI

Before implementing any AI platform, healthcare professionals and practices should carefully assess how the technology collects, stores and uses patient information.

Where Is Your Patient Data Stored?

Many AI providers process or store information using overseas servers. Before adopting an AI platform, healthcare professionals and practices should understand:

  • where patient information is stored;
  • whether information is transferred outside Australia;
  • whether overseas privacy protections are comparable to Australian standards; and
  • whether additional patient consent is required.

Does the AI Provider Use Your Data?

One of the most important questions to ask any AI supplier is whether uploaded information is used to train or improve its AI model.

Before engaging an AI provider, healthcare professionals and practices should understand:

  • whether patient information is retained;
  • whether information is anonymised;
  • whether data is used for ongoing AI development;
  • whether this can be contractually prevented; and
  • how information is permanently deleted when no longer required.

Healthcare professionals and practices should exercise particular caution when using free or consumer AI platforms, as patient information may be retained or used to improve the provider's AI model.

Review Your AI Supplier Agreement

Before purchasing or subscribing to an AI platform, carefully review the provider's terms and conditions. Key contractual issues include:

  • ownership of uploaded information;
  • confidentiality obligations;
  • cybersecurity standards;
  • data retention periods;
  • liability if the system fails;
  • termination rights; and
  • deletion of patient information when the agreement ends.

Understanding these contractual arrangements before implementation can help minimise legal, privacy and operational risks.

Privacy & Patient Consent

Patient health information is among the most sensitive forms of personal information protected under the Privacy Act.

If AI is used within your practice, patients should be informed: that AI is being used;

  • what information is collected;
  • how that information is used;
  • where it is stored;
  • whether information is disclosed overseas; and
  • whether any automated decision-making occurs.

Privacy policies and patient consent documentation should accurately reflect the use of AI within the practice.

Where appropriate, patients should also have the opportunity to ask questions and opt out of AI-assisted processes.

From 10 December 2026, organisations subject to the Privacy Act will also be required to disclose the use of automated decision-making processes involving personal information in their privacy policies.

AI Does Not Replace Professional Responsibility

AI is designed to support healthcare professionals, not replace them. Healthcare professionals remain responsible for:

  • exercising independent clinical judgement;
  • reviewing AI-generated information;
  • ensuring clinical decisions remain appropriate;
  • maintaining accurate patient records; and
  • meeting all professional and ethical obligations.

AI is a tool to support clinical decision-making, not replace it. Healthcare professionals remain legally responsible for patient care.

Medicare & Billing Considerations

Healthcare professionals and practice owners should also consider the Medicare implications of AI-assisted healthcare.

While AI may assist with documentation or clinical support, healthcare professionals remain responsible for ensuring Medicare billing requirements are satisfied.

Healthcare professionals should not assume services generated primarily through AI will qualify for Medicare benefits without appropriate clinical involvement.

Cybersecurity & AI

AI increases cybersecurity risks, making it essential that healthcare professionals and practices ensure AI providers meet appropriate security standards and patient information remains protected.

This includes:

  • multi-factor authentication;
  • secure user access controls;
  • encryption of patient information;
  • regular software updates;
  • incident response planning; and
  • ongoing staff training.

Healthcare continues to be one of Australia's most targeted industries for cyber incidents, making robust cybersecurity practices essential.

AI Governance Is Essential

As AI becomes more widely used across healthcare, practices should establish clear governance around its implementation, while healthcare professionals should understand their professional responsibilities when using AI to support patient care.

This may include:

  • an approved AI usage policy;
  • staff education and training;
  • documented approval processes for new AI tools;
  • regular review of AI outputs;
  • periodic supplier reviews; and
  • ongoing monitoring of legislative and regulatory developments.

Good governance helps ensure AI is used safely, ethically and in compliance with legal and regulatory obligations.

What Healthcare Professionals Should Do Now

To minimise risk and support compliance, we recommend:

  • understanding how AI is currently being used within your practice;
  • reviewing AI supplier agreements and licence terms;
  • confirming where patient information is stored and processed;
  • reviewing privacy policies and patient consent documentation;
  • ensuring appropriate cybersecurity safeguards are in place;
  • developing or reviewing internal AI governance policies;
  • providing staff education and training on the appropriate use of AI;
  • considering Medicare billing implications; and
  • obtaining legal advice before implementing new AI technologies.

How Hillhouse Legal Partners Can Help

Hillhouse Legal Partners has been supporting Australia's health and medical profession for over 30 years.

  • Our Corporate & Commercial team regularly advises healthcare professionals, practice owners and healthcare businesses on:
  • AI governance and implementation;
  • Privacy Act compliance;
  • patient consent documentation;
  • AI supplier and software agreements;
  • technology procurement;
  • cybersecurity and data governance;
  • medical practice risk management; and
  • regulatory compliance.

We understand the commercial realities of modern healthcare and provide practical, commercially focused advice to help our clients embrace innovation while managing legal and regulatory risk.

Need Advice on AI in Your Practice?

Artificial Intelligence is evolving rapidly, but your legal obligations remain.

Whether you are introducing AI for the first time or reviewing
existing systems, our experienced team can help you navigate
the legal, privacy and regulatory considerations with confidence.

This fact sheet provides general information only and should not be relied upon as legal advice. Specific legal advice should be obtained based on your individual circumstances.

Contractor or Employee? What a Recent Fair Work Decision Means for Businesses

Contractor or Employee? What a Recent Fair Work Decision Means for Businesses

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Contractor or Employee? What a Recent Fair Work Decision Means for Businesses

Author: Robert Lamb, Anthea Sun

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3 min read

11 Aug 2026

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    Key Takeaways
  • ࠂ
    Some direction or oversight of an independent contractor does not, by itself, make them an employee.
  • ࠂ
    When determining whether someone is a contractor or employee, the Fair Work Commission (FWC) will look at the whole relationship - including the terms of the contract and how the arrangement operates in practice.
  • ࠂ
    Businesses engaging contractors should ensure their agreements accurately reflect the intended relationship and, importantly, that the arrangement operates consistently with those terms in practice.

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Businesses engaging independent contractors will often need to provide some level of direction or oversight to ensure work meets their operational and professional requirements.

But when does that oversight become enough to suggest the contractor is actually an employee?

A recent Fair Work Commission decision involving a registered psychologist provides useful guidance for businesses, particularly professional and healthcare practices engaging independent contractors.

The Case

In Williams v Mind Matters Sydney Pty Ltd [2026] FWC 1163, a registered psychologist engaged under an Independent Contractor Agreement claimed that, despite the terms of his agreement, the way he worked in practice meant he was actually an employee.

This distinction was important because he was seeking to pursue a general protections dismissal claim under the Fair Work Act 2009.

The psychologist argued that he was effectively an employee because:

  • he was subject to day-to-day supervision;
  • he received instructions about how to perform certain tasks;
  • he was required to complete administrative tasks;
  • he was required to meet Key Performance Indicators (KPIs);
  • he did not have complete freedom to select his clients; and
  • he was required to provide six weeks’ notice to suspend his room rental arrangement.

Mind Matters maintained that he had always been engaged as an independent contractor.

What Did the Fair Work Commission Consider?

The FWC looked at the overall relationship between the psychologist and the practice and found that the way the arrangement operated was consistent with the Independent Contractor Agreement.

Importantly, some of the factors the psychologist relied on did not necessarily point to an employment relationship.

For example, his supervision was a requirement of his professional registration. The administrative requirements and alleged KPIs were also consistent with obligations contained in his contractor agreement.

He retained control over his availability and therefore when he could accept clients.

The FWC also found that a business can place certain requirements on a contractor without automatically creating an employment relationship. Mind Matters could set requirements around when and where services were provided, documentation and professional standards, but it did not control how the psychologist delivered his professional services to clients.

Other practical factors also supported his status as an independent contractor. He worked at another psychology practice, operated as a sole trader, invoiced under his own ABN and charged GST.

The Decision

Looking at the relationship as a whole, the FWC found that the psychologist was an independent contractor, not an employee.

The Independent Contractor Agreement was found to be valid and enforceable, and the way the parties worked together was consistent with its terms. As a result, the psychologist could not pursue his claim on the basis that he had been dismissed as an employee.

What Does This Mean for Businesses?

This decision is a useful reminder that having an Independent Contractor Agreement is important - but the agreement also needs to accurately reflect the relationship in practice.

If your business or practice engages contractors:

  • make sure your contractor agreements clearly reflect the intended working relationship;
  • ensure the way you work with contractors is consistent with those agreements;
  • be mindful of the level and type of control you exercise over contractors; and
  • regularly review contractor arrangements as roles and working practices evolve.

Getting the arrangement right from the outset can help reduce uncertainty and the risk of costly disputes later.

If you engage independent contractors and are unsure whether your agreements or working arrangements appropriately reflect the relationship, our Employment & Industrial Relations team can help.

Contact Robert Lamb or Claudia Molachino on 07 3220 1144, or email our team at email@hillhouse.com.au to discuss your contractor arrangements.

Legal Alert: Employment Law Cost Changes Commencing 30 June and 1 July 2026

Legal Alert: Employment Law Cost Changes Commencing 30 June and 1 July 2026

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Employment Law Cost Changes Commencing 30 June and 1 July 2026

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3 min read

2 Jul 2026

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    Key Takeaways
  • ࠂ
    Employers need to prepare for several significant employment law changes taking effect from 30 June and 1 July 2026.
  • ࠂ
    Payroll systems, superannuation processes and employee pay rates should be reviewed to ensure they reflect the new legal requirements.
  • ࠂ
    Health and pharmacy employers face award-specific wage increases, while all employers need to comply with new superannuation and minimum wage obligations.
  • ࠂ
    Taking proactive steps now can help minimise the risk of underpayments, penalties and workplace disputes.

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A number of significant employment law cost changes commence from 30 June and 1 July 2026. These reforms affect employer obligations relating to superannuation, minimum wages, modern awards and Paid Parental Leave.

Now is the time to ensure your payroll systems, employment practices and workplace policies are up to date.

30 June 2026 

Wage increases to awards found subject to gender-based undervaluation

As part of the Fair Work Commission's gender undervaluation reforms, the following increases take effect from the first full pay period commencing on or after 30 June 2026:

  • The first of five staged wage increases under Health Professionals and Support Services Award 2020
  • The second of three phases of wage increases under the Pharmacy Industry Award 2020
  • The first of three increases to minimum rates under the Children’s Services Award 2010

Employers should:

  • Review relevant award/s and identify confirm new rates. The Fair Work Ombudsman Pay and Conditions Tool can provide useful guidance: P.A.C.T Pay Calculator - Find your award
  • Review employee classifications and confirm employees are correctly classified
  • Update payroll systems with to reflect minimum award rates

1 July 2026

Payday Super Begins

Superannuation contributions must now be received by an employee's nominated super fund within seven business days of each payday. This replaces the current quarterly payment system.

Employers should:

  • Review payroll and superannuation processes
  • Consider any cashflow impacts of more frequent super payments
  • Ensure payroll systems can meet the new payment deadlines

New Super Calculation Rules

The Super Guarantee will now be calculated using qualifying earnings (QE) rather than ordinary time earnings (OTE).Qualifying earnings include OTE, commissions and certain salary sacrifice amounts.

Employers should:

  • Review payroll systems
  • Review current remuneration arrangements, particularly commission-based or complex arrangements
  • Confirm superannuation is being calculated correctly

Expanded Paid Parental Leave

Eligible families with children born or adopted on or after 1 July 2026 will be entitled to 26 weeks (130 days) of Government-funded Paid Parental Leave, an increase from the previous entitlement of 24 weeks.

Employers should ensure their parental leave policies and employee communications reflect the expanded scheme.

Superannuation on Paid Parental Leave

The Australian Taxation Office will make superannuation contributions of 12% to current and future recipients of government funded paid parental leave, and to those who received government funded paid parental leave in the 2025-26 financial year.

Minimum Wage Increases

From the first full pay period commencing on or after 1 July 2026:

  • The National Minimum Wage increases to $26.44 per hour ($1,004.90 per week)
  • Modern award minimum wages increase by 4.75% 

Employers should also review salary and annualised wage arrangements to ensure employees remain better off overall.

Employers should:

  • Review employee pay rates
  • Update payroll systems
  • Check annualised salary arrangements remain compliant

What Employers Should Do Now

With multiple changes taking effect within a short period, employers should take the opportunity to review their workplace compliance obligations.

Key actions include:

  • Review award classifications and employee pay rates
  • Update payroll systems for the new wage and superannuation requirements
  • Ensure compliance with the new Payday Super regime
  • Review employment contracts and remuneration arrangements where necessary
  • Update parental leave policies and employee communications

Failure to comply with workplace laws can expose employers to underpayment claims, financial penalties and costly workplace disputes.

If you are unsure how these changes affect your business, require assistance reviewing your employment practices or believe you may have failed to comply with one or more of your workplace law obligations, the Employment & Industrial Relations team at Hillhouse Legal Partners can assist.

Please contact Robert Lamb on (07) 3220 1144 or robert@hillhouse.com.au.

Proposed Testamentary Trust Tax Changes: Government Signals Further Change

Proposed Testamentary Trust Tax Changes: Government Signals Further Change

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Proposed Testamentary Trust Tax Changes: Government Signals Further Change

Author: Robert Lamb

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3 min read

23 Jun 2026

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    Key Takeaways
  • ࠂ
    Recent reports indicate the Government intends to revise its proposed testamentary trust tax changes, however the legislation has not yet been introduced or passed by Parliament.
  • ࠂ
    Testamentary trusts remain an important Estate Planning tool, with flexibility continuing to be a key feature of a well-structured Will.
  • ࠂ
    There is no need to make immediate changes based on media reports alone, but if you have concerns about your Estate Plan, now is an appropriate time to seek advice.

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When the Federal Budget was handed down in May, the Government announced a proposal to introduce a minimum 30% tax rate on income from discretionary trusts, including discretionary testamentary trusts established from 1 July 2028.

At the time, we shared in our recent Federal Budget Proposal article that the proposal represented a significant potential change to Estate Planning and that, importantly, the legislation had not yet been introduced or passed by Parliament.

Since then, the Government has indicated it intends to revise the proposal. It has been widely reported that discretionary testamentary trusts established for genuine Estate Planning purposes will no longer be subject to the proposed 30% minimum tax. Instead, the proposed minimum tax is expected to only apply where income from those trusts is distributed to a corporate beneficiary.

While this is welcome news for many Australians, it is important to remember that the proposed legislation has not yet been finalised or passed by Parliament. The detail of the final law, including any exclusions and how they will operate in practice, remains uncertain.

What does this mean for your Estate Plan?

Our advice remains largely unchanged.

Testamentary trusts continue to be an important Estate Planning tool. They can provide significant benefits including:

  • Asset protection
  • Flexibility in administering inheritances
  • Protection for vulnerable beneficiaries, and
  • Tax planning opportunities where appropriate

The recent developments reinforce the importance of building flexibility into Estate Planning rather than reacting to proposals that may ultimately change before becoming law.

Should you change your Will?

For most people, there is no immediate need to amend an existing Will solely because of these announcements.

However, if you have questions about how the proposed changes may affect your Estate Plan, or you are considering updating your Will for other reasons, now is an appropriate time to seek advice.

As the legislation is still being developed, we are not yet able to provide definitive advice on how the final laws will affect individual Estate Plans. Once the legislation is settled, we will be able to provide more specific recommendations where required.

We're here to help

Our Wills & Estates team is here to discuss the proposed changes and answer any questions you may have about your Estate Planning arrangements. To arrange a confidential discussion, please contact Robert Lamb, Tracy Pratt or our Wills & Estates team on (07) 3220 1144 or send our team an email via email@hillhouse.com.au.

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