What pharmacy owners need to know

If you own an existing pharmacy in Queensland, you must apply for a pharmacy business licence by 2 November 2026. You should also confirm that your ownership structure complies with the new rules.

Queensland’s new pharmacy licensing regime is now in effect, and the deadline is fast approaching. This article follows our earlier update, New legislation affecting pharmacy owners in Queensland.

What has changed?

The Pharmacy Business Ownership Act 2024 (Qld) took full effect on 1 November 2025. It created a new licensing system, run by the Queensland Pharmacy Business Ownership Council (the Council).

If you owned a pharmacy before the new rules commenced, you must lodge a licence application by the deadline. However, the requirements go beyond completing a form. You also need to confirm that everyone who owns part of your pharmacy, or benefits from it, is permitted to do so under the new rules. This is particularly important where a pharmacy is owned through a company or trust.

Who can hold an interest in a pharmacy?

The new law limits who can hold a material interest in a pharmacy. Broadly, this includes people who own part of the pharmacy business, such as shareholders in the company that owns it, or people who can benefit from a trust that owns it.

Generally, a material interest may only be held by:

• a practising pharmacist, or
• a close adult relative of a practising pharmacist who has an interest in that same pharmacy.

A “close adult relative” means only the pharmacist’s spouse or their children aged 18 or over. Parents, other relatives and children under 18 are not included. A material interest holder must also be an individual, not a company.

Examples of eligible pharmacy owners in Queensland include:

• a practising pharmacist, owning it personally or in their capacity as trustee of a trust
• a friendly society
• a company whose directors and shareholders are all practising pharmacists
• a company whose directors and shareholders are a mix of practising pharmacists and their spouses or adult children, provided practising pharmacists hold the majority of shares and all voting shares.

Shareholders can also hold their shares through a trust, provided the trust meets the same eligibility requirements.

Trusts and companies require particular attention

A trust is an arrangement where one person or company (the trustee) holds assets on behalf of others (the beneficiaries). Many pharmacies are owned through a family trust, also called a discretionary trust, where the trustee decides each year who receives the income.

Under the new rules, the beneficiaries of a trust that owns a pharmacy may count as having a material interest. The same applies where a shareholder in the pharmacy-owning company holds their shares through a trust. The beneficiaries of that trust generally need to meet the eligibility requirements as well.

Owners should not assume their structure complies simply because it has been accepted in the past.

The trust deed is the legal document that sets out the trust’s rules, including who can benefit. Family trust deeds often list a wide range of possible beneficiaries. This may create issues where the list includes people who are not eligible to hold a material interest, such as:

• children under 18
• extended family members
• companies, including “bucket companies” (companies set up to receive trust income, usually for tax reasons)

The Council has confirmed that a material interest holder must be an individual. Legal commentators have also flagged family trusts with wide beneficiary lists, and company beneficiaries, as areas requiring attention.

Where a pharmacy is owned through a company, owners should ensure that:

• the company’s directors and shareholders meet the ownership rules
• anyone who benefits from a trust holding shares in the company is eligible
• the company and trust setup otherwise complies with the Act

Seek tax advice before making changes

If your structure needs to change, avoid making amendments solely to satisfy the licensing requirements. Changes to a trust, a company or ownership interests can have tax and stamp duty consequences. The outcome will depend on your existing structure and the changes proposed.

Proposed changes should be reviewed from both a legal and tax perspective before they are implemented, particularly if you plan to:

• change who can benefit from a trust
• change a trust deed
• transfer shares or other interests
• restructure the group that owns the pharmacy

Lodge your application now, even if your structure is still under review

Identifying a potential issue with your structure does not mean you should delay your application. For example, if your pharmacy is in the process of being sold, the Council notes that you must still apply if the sale may not settle before 2 November 2026.

Certain existing owners may be eligible for transitional arrangements extending to 1 November 2027. The eligibility criteria are specific, so advice should be obtained before relying on this extended period.

The immediate priority is to meet the licensing deadline. Any necessary restructuring should then be considered carefully rather than rushed (this includes considering the recent announcements with respect to trusts and Capital Gains Tax).

Your checklist before 2 November 2026

• Have you lodged your pharmacy business licence application?
• Have you identified everyone who owns part of the pharmacy or benefits from it?
• If a trust is involved, have the trust deed and list of beneficiaries been reviewed?
• Are there children under 18, extended family members or companies in the structure that require further consideration?
• Are the relevant pharmacist owners registered and practising?
• If your structure needs to change, have you considered the tax, stamp duty and legal consequences first?

How to apply

Applications are made online through the Council’s Pharmacy Business Ownership Administration System (PBOAS). Directors, shareholders and trust beneficiaries can also complete their required consents and declarations there.

For more information, visit the Council’s website.

Next steps

The new regime has been discussed for some time, but it is no longer on the horizon. The legislation is in force, the licensing system is operating, and existing owners should be taking steps to address their position now.

If you are unsure whether your ownership or trust structure meets the new requirements, or would like assistance reviewing it before 2 November 2026, please contact your Holman Hodge adviser.

This article is general information only and does not constitute legal or tax advice. How the new rules apply to you depends on your circumstances and ownership structure. Please seek advice from your accountant and/or legal adviser before changing your ownership structure.

About the author 

Serry Leombruno is a Manager at Holman Hodge. He works with a stable of pharmacy clients, supporting tax and compliance, management accounting and advisory around matters such as restructures, cashflow and transactions. Coming from commerce, with a pharmacy and retail background, he has an understanding of systems and processes, providing insight into business improvement.