The Tait Memorial Trust was formed in 1992 by Isla Baring in memory of Sir Frank and Viola, Lady Tait and the Tait brothers who played such an important part in the establishment of theatre and the performing arts in Australia. The Trust offers awards/grants for postgraduate study, performance opportunities to young Australian musicians and performing artists and general help in the furtherance of their careers while resident in the UK.

To ensure its continuance the Trust arranges regular fund raising events and concerts, invariably featuring the talented young winners of the various awards, and relies a great deal on financial support from the business sector, private donors and other loyal supporters.