Sep 4, 2026 – 8.00pmWealthy families and business owners face a surprise deadline for making high-stakes decisions about inheritances after Labor announced a requirement that trust beneficiaries and income splits be locked in by 2029 – or the new 30 per cent minimum tax will apply.Under draft rules released on Thursday, trustees can bypass the new 30 per cent minimum tax on trust distributions by making a once-only nomination of beneficiaries and the proportion of income they should receive each year.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles