May Updates

May was one of the biggest months for tax in recent memory. In Episode 2 of Tax Talks, hosts Andrew Henshaw and Rajan Verrma are joined by Anthony Tripolino from Tripolino Accountants to unpack the Federal Budget and the significant tax measures that have sparked widespread discussion across the profession. The episode explores the proposed capital gains tax reforms, changes to negative gearing, the proposed 30% minimum tax on discretionary trusts, family trust distribution tax issues, and the practical implications these measures may have for accountants, business owners and investors. The discussion also covers several recent tax cases, including decisions involving Division 7A, family trust elections, section 99B foreign trust distributions, trust deductions and burden of proof issues. For accountants, tax practitioners and advisers wanting to stay across the latest developments, this episode provides a practical discussion of the issues currently shaping Australia's tax landscape.