Sweeping new trust tax changes are coming. Will they affect you?

Australia's government introduced a 30 percent minimum tax on discretionary trusts, affecting about 800,000 family trusts. Treasury estimates over 95 percent of Australians will not be impacted, as 90 percent of trust wealth belongs to the top 10 percent of households. The changes aim to reduce income-splitting advantages that previously allowed high-income earners to distribute income to lower-taxed family members.

Summary by Glance · The Age