Jul 24, 2026 – 2.02pmLawyers’ trust accounts and redundancy trust funds will inadvertently be hit by a new 30 per cent tax and face higher compliance costs under Treasurer Jim Chalmers’ tax overhaul.The impact of the proposed new minimum tax on discretionary trust distributions extends beyond the Albanese government’s primary intent to target tax minimisation and income splitting by wealthy families and small businesses, trust experts said.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Lawyers’ trust accounts snared by new 30pc tax
The proposed new minimum tax on discretionary trust distributions extends beyond the Albanese government’s primary intent to target tax minimisation.
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