Trust tax changes affect 850,000 Australian trusts

The federal government's proposed trust tax changes introduce a minimum 30% tax rate on distributions from approximately 850,000 discretionary trusts in Australia. Trusts established before budget night and farming trusts are exempt from the new measures. Beneficiaries who previously paid tax at their marginal rate of 15% or lower will now face the 30% minimum, whilst those already paying above 30% remain unaffected.See omnystudio.com/listener for privacy information.