Be warned that when purchasing property through a discretionary trust the foreign purchaser stamp duty surcharge may apply.
It is common for discretionary trusts to have a wide definition of eligible beneficiaries. This is because it is tax beneficial to distribute income to beneficiaries who have a lower income. However if some of those beneficiaries include relatives that are considered foreign natural persons (basically anyone who is not an Australian citizen or certain visa card holder) then this will mean that the foreign purchaser stamp duty surcharge (which is now 7% in addition to the standard rate of duty) will apply to property purchased in Victoria.