Australia introduces 30 percent minimum tax on discretionary trusts from 2028

Australia's federal budget introduces a 30 percent minimum tax on discretionary trusts starting July 2028, targeting income-splitting strategies used by high earners. The change affects 840,000 trusts that distributed $142.4 billion in 2023, with 90 percent of trust wealth held by the wealthiest 10 percent of households.

Summary by Glance · ABC News – Top stories