Dozens of politicians set to be hit by new tax on trusts

Australia's government plans a 30 percent minimum tax on discretionary trusts starting 2028, expected to raise $4.4 billion annually. Around 70 federal politicians, predominantly Coalition members, have disclosed trust interests, including Nationals MP Andrew Willcox with 17 trusts. The policy targets income-splitting arrangements used by wealthy families, though farming income and deceased estates remain exempt.

Summary by Glance · Brisbane Times