Updated Sep 3, 2026 – 2.27pm, first published at 2.03pmThe Albanese government has made further changes to its controversial budget tax overhaul, yielding to pressure from business to water down its plans to tax discretionary trusts at a minimum 30 per cent.Treasurer Jim Chalmers announced on Thursday an exemption from the new tax, which was originally forecast to raise $4.5 billion a year by the end of the decade. Trustees can now elect to make fixed distributions to pre-nominated beneficiaries, and so avoid both the new tax and having to undergo a costly restructure out of the trust.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
‘No need to restructure’: Chalmers offers concessions on new trust tax
Trustees can avoid paying the new minimum 30 per cent tax on discretionary trusts as well as stamp duty, following pressure from business.
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