Labor Stands Firm on Proposed 30 Percent Discretionary Trust Tax
'We’re not watering this down. This is a very substantial review. This is about fairness in our tax system,' said Assistant Treasurer Daniel Mulino.
TL;DR
- Labor government confirms commitment to a 30 percent minimum tax on discretionary trusts.
- Legislation for the taxation plan is expected in the coming days.
- Assistant Treasurer Daniel Mulino stated the government will not change its position.
- The tax is intended to promote fairness and better align trust income taxation with income earned from labor.