Australian Parliament: House of Representatives · Question Time | 15th October 2026
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reformed discretionary trust tax treatment to align trust income with work income and fund tax cuts for workers
350,000 small businesses operate through trusts; compliance advice costs estimated at >$50,000 per business
“The will can establish a trust, a testamentary trust, and it holds those assets for that beneficiary... income from assets... can qualify as accepted income for minors, taxed at normal adult rates”
“You can use the rollover relief, and you can transfer the assets... into a company, into a unit trust. That will help you avoid the 30% minimum tax on discretionary trusts”
“It only applies for Commonwealth income tax purposes and does not require a change to the trust deed or trustee powers.”
“If your income's over $250,000, contributions to super are taxed at 30%… means less of a tax saving”
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