“Postcode lottery”: Tax experts call for stamp duty certainty in trust tax proposal
Experts fear the federal government’s trust tax reforms, detailed in a new consultation paper, could disrupt small businesses.
Tax and accounting experts fear the federal government’s trust tax reforms could disrupt small businesses, with proposed carveouts doing little to prevent businesses from copping a major stamp duty hit.
The Treasury on Wednesday published a 17-page consultation paper on the planned reforms, which would impose a new 30% baseline tax on discretionary trusts.
The contentious measure, announced in the 2026-27 federal budget, is intended to reduce the tax benefits of income-splitting and align the tax treatment of trust distributions with regular working income.
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