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Federal Budget 2026/2027

  • May 13
  • 1 min read

Reforming the taxation of discretionary trusts


From 1 July 2028 (i.e., from the 2029 income year), trustees will pay a minimum tax of 30% on the taxable income of discretionary trusts. Beneficiaries, other than corporate beneficiaries, will receive non-refundable credits for the tax payable by the trustee.

Under the minimum tax, corporate beneficiaries will be assessed based on the trust income to which they are entitled, without being able to claim credits for tax payable by the trustee. Reforming the taxation of discretionary trusts

 
 
 

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