The Trust has been established as a way of collecting community contributions to support next July's event.
He says enabling legislation will be introduced as soon as practicable.
Meanwhile, the Sydney Morning Herald reports that Cardinal George Pell said on the weekend that WYD will definitely go ahead at Randwick racecourse.
He said: "You would recall that last October there was an official announcement with the Premier and [local federal MP] Malcolm Turnbull hosted by the AJC at Randwick announcing that the final vigil and the final mass would be there.
"The course is owned by the State Government. They are keen for us to go there. The final Mass will be there," he said.
About 300,000 people would have to be accommodated during an overnight vigil on Saturday, July 19, with numbers expected to swell to 550,000 on the Sunday. A three-storey altar would be constructed and 4000 toilets needed. It was expected the racecourse would need extensive returfing after the event.
WYD coordinator Bishop Anthony Fisher said workers will need to be on site for less than a week.
No Randwick meetings this year
Deductibility of gifts to World Youth Day Trust (CHA, 11/9/07)
LINKS (not necessarily endorsed by Church Resources)
World Youth Day 2008
Peter Dutton website
Vic govt comes to WYD funding party (CathNews, 5/9/07)
WYD registrations exceeding expectations (CathNews, 4/9/07)
WYD stays at Randwick, Premier rules (CathNews, 31/8/07)
Greens join Randwick exit chorus (CathNews, 30/8/07)
Not moving: Randwick trainers defiant (CathNews, 30/8/07)
Not too late to move WYD: Cups King (CathNews, 27/8/07)
WYD seeks Sydney harbour site for opening (CathNews, 20/8/07)
Conversions off the WYD inter-faith agenda (CathNews, 16/8/07)
WYD to showcase faith potential to unite world (CathNews, 15/8/07)
Howard, Rudd promise $15 million more for WYD (CathNews, 13/8/07)
Condoms not on for WYD (CathNews, 30/7/07)
Love in the air for WYD (CathNews, 24/7/07)
Young Christians helping WYD pilgrims get piece of action (CathNews, 19/7/07)
Open hearts to WYD pilgrims, Fisher urges Sydney (CathNews, 17/7/07)
Can't lease Randwick for WYD, trainers tell club (CathNews, 11/7/07)
Randwick no place for pope, opines Cup winner Cummings (CathNews, 10/7/07)
Pope set to come, trainers to sue over WYD (CathNews, 5/7/07)