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Too many variables, not enough information.
It all depends on your circumstances, e.g. are you building one or multiple dwellings? Are you keeping one or selling them all? Will you rent them out first or sell them off-the-plan/immediately after construction?
Are you living in the property right now? Who owns the property (i.e. you or the Trust entity)? If it's you, you may need to transfer it to the Trustee (who will hold it on behalf of the Trust) before the Trust can develop/build/sell it.
Are you planning to be an owner-builder or will you hire a builder/project manager?
Will you distribute the income from the sales to the beneficiaries or keep it? How many beneficiaries do you have?
Like I said, too many variables. You need to consult a tax accountant and provide all the details to obtain correct advice.
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