CANBERRA, ACT, Oct. 14 -- The Treasurer of Australia issued the following transcript:
Jim Chalmers:
Good morning, everyone. It's a really important day today. Today, we introduce the third major tranche of the tax reform legislation to give effect to the very ambitious tax package that we announced in the Budget.
Our tax reforms are all about cutting taxes for workers, making the housing market fairer for first‑home buyers, and better aligning the tax treatment of income from working and income from assets. Today, this trusts legislation it's a really important step when it comes to tax reform.
There are legitimate reasons for people to have trusts, but they do mean that a small proportion of Australians can manage their tax affai...