Terry - OSR QLD generally have issues with a disc trust and s123. A specific beneficiary v's a class of beneficiary is a tough ask. I recall taker in default get a good run in the act. Part 8 of the Qld Duties Act is a minefield.
QLD Duties Act has a couple of nice and a couple of nasty provisions. QLD has really damaging indirect duties provisions for trusts of all kinds. Its a broad anti-avoidance provision.
Changing the trust can impose stamp duty so BE CAREFUL. I wouldnt act without asking for a ruling first in...
