The federal budget includes a new 30 per cent minimum tax on discretionary trusts. Experts say it is not just the ultra-wealthy that will be hit.

A new 30% minimum tax rate is coming for discretionary trusts, carving into a system the Albanese government says benefits wealthy individuals and families to the detriment of “ordinary workers”.

The changes to trusts are a major part of Labor’s latest budget. So how can you expect to be affected, if at all?

As Money writer Paul Benson pointed out this week, for the vast majority of us, these changes will mean very little − you can still save into super and your main residence is still exempt from CGT.

The Labor minister and former entrepreneur says trusts are a legitimate tool used by many small businesses and families – ...

For decades, discretionary trusts have been part of the estate planner's arsenal. These types of trusts have significant advantages, including the flexibility to deal with changes in circumstances.

Family trusts will be whacked with a minimum 30 per cent tax from 2028 as the Albanese government takes a sledgehammer to vehicles used by the wealthy in the name of creating a fairer system.

In his 2026 budget, Treasurer Jim Chalmers revealed plans to overhaul the tax treatment of discretionary trusts, a model used ...

The federal government has left the door open to further changes after coming under pressure for including future ...