The boy was aged 15 when he was accused of fatally stabbing Greg Josephson, who established Australian fashion retailer Universal Store, at the man's Clayfield home in Brisbane's south last year.
He is the first juvenile to be charged with murder after the passage of Queensland's controversial "adult crime, adult time" laws, mandating he will face a life sentence if found guilty.
Police were called to the house about 8.15pm on June 26, 2025 after Mr Josephson was found dead during a party involving about 30 young people.
The charge against the teen, now aged 16, was briefly mentioned in Brisbane Children's Court on Tuesday.
A psychiatrist had yet to complete his medical opinion on the teen, defence solicitor Kris Jahnke told magistrate Anne Thacker.
"I'm told that he should be in a position to provide an opinion by the end of April," Mr Jahnke said.
The teen, who cannot be named for legal reasons, was not required to appear.
Ms Thacker said she had been told the psychiatric report would be provided this month.
"This is a complex matter. (The psychiatrist) has been meeting with my client on numerous occasions but he has also experienced some delay in respect of being able to get into the youth detention centre," Mr Jahnke said.
Records of the teen's current treatment while in custody on remand were also being sought, Ms Thacker heard.
Mr Jahnke sought to adjourn the matter to May 26 and prosecutors did not object.
Ms Thacker granted the adjournment and remanded the teen in custody.
Police said they were confronted with a "confusing" scene when they arrived at Mr Josephson's home in the upmarket inner-city Brisbane suburb of Clayfield in June 2025.
A majority of the teenagers at the party were unaware of what had occurred before officers discovered Mr Josephson's body inside the home, investigators said.
"It was a confusing situation because it was a party," acting Detective Superintendent Craig Williams told reporters in July 2025.
Mr Josephson founded Universal Store with his brother Michael in 1999.
The national apparel retailer was acquired by a group of private equity investors in 2018 for a reported $100 million and two years later the business went public on the ASX.