CANBERRA, ACT, Sept. 3 -- The Treasurer of Australia issued the following media release:
The Albanese Government is today releasing draft legislation to implement the core components of the minimum tax on discretionary trusts announced in the 2026-27 Budget.
We're delivering a fairer tax system and helping fund tax cuts for workers by better aligning the tax rate on trust income with tax rates paid by workers.
The draft legislation builds on the consultation paper released in July and includes expanded options to limit or eliminate restructuring costs for small businesses and others using discretionary trusts.
This includes a new option for discretionary trusts to be exempt from the minimum tax if they elect to make fixed distributions ...