Back in 2017, opposition leader Bill Shorten announced that Labor would reform the taxation of discretionary trusts to prevent income from being allocated to household members in lower tax brackets.
Read more at the Accountants Daily.
Fears of Labor’s trust tax impact on SMSFs eased
The impact of Labor’s trust tax on SMSFs may not be as significant as some have feared, with Labor unlikely to apply a strict legal definition of discretionary trusts to investments such as managed funds, according to a technical expert.
