The 2 November 2026 deadline for Queensland pharmacy business owners is fast approaching and if you are waiting until your ownership structure is fully compliant before lodging a Form 1A application for a pharmacy business licence, you may be making a costly mistake.
The Pharmacy Business Ownership Act 2024 (Qld) (“PBO Act”) commenced on 1 November 2025, with the Queensland Pharmacy Business Ownership Council (“QPBOC”) now the active regulatory authority under the new regime.
If your ownership structure involves a discretionary trust, a company or a non-practising pharmacist, it faces the risk of being non-complaint under the PBO Act.
Our advice is this: do not wait until your structure is reviewed or fixed before applying. Lodging your QPBOC Form 1A application now is the single most important step you can take to protect your position.
Is Your Structure at Risk?
The PBO Act has significantly tightened who can hold a material interest in a pharmacy business.
A person holds a material interest in a pharmacy business if they are:
- a shareholder of an owner;[1]
- a beneficiary of a trust where an owner or shareholder acts as trustee (even without ever receiving a distribution);[2] or
- if they hold any other interest entitling them to returns that vary with the profits or takings of the business.[3]
Only two categories of person may lawfully hold a material interest in a pharmacy business:
- a pharmacist with general registration who is currently practising;[4] or
- a close adult relative (that is, a spouse or adult child over 18) of a practising pharmacist who holds an interest in that same business.[5]
Is Your Discretionary Trust Compliant?
Discretionary trusts are one of the most frequently affected structures under the new regime. The issue is not the trust itself, but who is named as a potential beneficiary. If your trust deed includes classes such as “future children”, “extended family members”, or corporate beneficiaries such as bucket companies, those interests are likely non-compliant.
Why You Should Apply for Your QPBOC Licence Now
Waiting to fix your structure before applying by 2 November 2026 is a high-risk strategy. Applying early offers three significant advantages:
- Keep Operating While Your Application is Decided
Lodging your application before 2 November 2026 means you may continue to own and carry on your pharmacy business until your application is decided, even if that decision falls after the 2 November 2026 deadline.[6]
- Secure the 1 November 2027 Rectification Window
A pharmacy business licence can be granted even if your discretionary trust has non-compliant beneficiaries. Once granted, section 218 of the PBO Act protects those beneficiaries from liability until 1 November 2027, giving you time to amend your trust deed to ensure all beneficiaries meet the eligibility requirements under the PBO Act.
Similarly, if a pharmacist with an ownership interest currently holds non-practising registration, a pharmacy business licence can still be granted. Section 219 of the PBO Act deems that person to be a practising pharmacist in the interim, preserving their ownership rights while they transition to general registration. That deemed status expires on 1 November 2027, by which point the pharmacist must hold general registration to remain a compliant owner.
- Possible CGT relief
The Federal Government has not set out the necessary details regarding how it will implement the minimum tax on trusts proposed in the budget or how any rollover relief will work. This is currently proposed to be available from 1 July 2027.
Depending on how these arrangements work, there may be short window between 1 July 2017 and 1 November 2027 to carry out any restructuring from a trust structure in a tax effective way.
- Support From the QPBOC
The QPBOC has indicated in its Strategic Plan 2025-2029 that supporting pharmacy business owners to achieve compliance is a priority, with its proposed approach including proactive stakeholder engagement and practical guidance to assist owners through the transition. The earlier you are in the process, the more time you have to make use of that support before the 2 November 2026 deadline arrives.
What Happens if You Miss the 2 November 2026 Deadline?
Missing the 2 November 2026 deadline is not a simple administrative error. It has long-term regulatory consequences.
- Loss of the Extra Year: The 2027 “rectification” window is generally only accessible to those who have engaged with the licensing process by the 2 November 2026 deadline.
- Fit and Proper Person Status: The QPBOC assesses whether applicants are fit and proper to own a pharmacy business.[7] Ignoring statutory deadlines is a contravention of the PBO Act and is a factor when considering whether you are a fit and proper person.[8]
- Significant Fines: Unlicensed operation carries heavy financial penalties and potential prosecution.[9]
Pharmacy Business Licence FAQs
Q: Who is considered a “Close Adult Relative”?
A: Only a spouse or a child over the age of 18. Parents, siblings, and grandchildren are generally excluded from holding a material interest.
Q: What is the “Supermarket Rule” for new licences?
A: The PBO Act restricts pharmacies from operating in premises with direct access to supermarkets.[10] If your pharmacy is already set up that way, you will get a free pass and can keep doing what you are doing, as such premises are deemed to be authorised.[11] However, if your pharmacy relocates to different premises or changes ownership after the 2 November 2026 deadline, that exemption disappears and you will need to comply with the new premises standards prescribed in the Pharmacy Business Ownership Regulation 2025 (Qld) to ensure the premises are authorised.[12]
Q: Which form do I use?
A: Most owners will use Form 1A (Application for a pharmacy business licence – Natural person and/or Corporation), available on the official QPBOC website.
What to Do Next
If you owned a pharmacy as of 31 October 2025 and have not yet submitted your QPBOC Form 1A application, contact us on 07 3001 2925 today for assistance with your QPBOC licence application and also a compliance review of your pharmacy ownership structure. You may also contact Andrew Lambros, Managing Director, and Chris Lillie, Director, for advice.
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This publication covers legal and technical issues in a general way. It is not designed to express opinions on specific circumstances It is intended for information purposes only and should not be regarded as legal advice. Further professional advice should be obtained before taking action on any issue dealt with in this publication.
[1] Pharmacy Business Ownership Act 2024 (Qld) s 13(1)(a).
[2] Ibid s 13(1)(b).
[3] Ibid s 13(1)(c).
[4] Ibid s 16(a).
[5] Ibid s 16(b).
[6] Pharmacy Business Ownership Act 2024 (Qld) ss 216(2)(a).
[7] Ibid s 72.
[8] Ibid s 72(d).
[9] Ibid ss 15(1), 19.
[10] Ibid s 11(1).
[11] Ibid s 220.
[12] Pharmacy Business Ownership Act 2024 (Qld) s 220(1).