Labor introduces 30% minimum tax on discretionary trusts, needs Greens to pass it
Treasurer Jim Chalmers has introduced legislation establishing a 30 per cent minimum tax on income distributed through discretionary trusts to curb income splitting, projecting $4.5 billion in revenue for its first full year. The Coalition and business groups argue the policy penalises small and family businesses with severe restructuring costs, leaving Labor dependent on Senate negotiations with the Australian Greens. Also in this briefing: the Reserve Bank continues monitoring rates, and the High Court rules a Queensland inmate has the legal right to preserve her eggs while incarcerated.
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Labor proposed a thirty percent minimum tax on discretionary trusts starting in July twenty twenty-eight.
The trust tax reform is projected to raise over forty billion dollars across its first ten years.
Up to three hundred and fifty thousand small and medium businesses face costly operational restructuring.
The Greens want to scrap tax-free trust distribution exemptions for private school foundations to pass the bill.
The Reserve Bank board is weighing another interest rate hike with the cash rate at four point six percent.
The High Court ruled Queensland prisoner Rachel Smith can privately freeze her eggs while serving her sentence.
- 01Intro1 min
- 02Labor introduces 30% minimum tax on discretionary trusts, needs Greens to pass it: The Legislative Overhaul3 min
- 03Labor introduces 30% minimum tax on discretionary trusts, needs Greens to pass it: Economic Fallout and the Senate Hurdle2 min
- 04Where things stand1 min
- 05High Court rules Queensland prisoner can freeze her eggs while in custody2 min
- 06Outro1 min
- Tax accountant the ‘great winner’: Government introduces next tranche of trust tax bill
- Trust Tax Reforms Introduced: 30% Minimum Tax and Key Exemptions | Russell Kennedy
- Tax reform – introducing a minimum tax on discretionary trusts | Australian Taxation Office
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- Tax explainers minimum tax discretionary trusts.pdf
- Top 10 questions: Discretionary Trust Minimum Tax - Pitcher Partners
- Federal Budget Analysis 2026 | Trusts
- Labor has backed down on its trust tax changes, but family trusts still face a difficult choice
- Tax changes to discretionary trusts are likely – what is happening and why are some Australians upset?
- Labor introduces 30% trust tax as small business backlash intensifies
- Contentious Trust Tax Bill Tabled as Farmers, Small Business Face Major Changes
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- Smith v Chief Executive, Queensland Corrective Services (B58 2026) [2026] HCA 37.pdf
- Smith CEQCS App.pdf
- Rachel Smith will turn 39 in prison. The high court says she could freeze her eggs from behind bars
- Australia’s High Court overturns prisoner egg-freezing refusal
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