Australia’s Greens move to challenge Labor’s planned “trust tax” after Treasurer Jim Chalmers prepares legislation to introduce a 30% minimum tax on certain discretionary trusts. ABC Australia reports the Greens raise a further obstacle as the legislation approaches, while other outlets say the Greens are pressing for procedural scrutiny.
The Greens are set to attempt to refer the measure to an inquiry, according to PerthNow, arguing for more examination of how the changes would work. Business groups and tax professionals question the costs and compliance impacts, The West Australian (Business) reports, warning some small businesses could face costly restructuring bills and citing concerns about effects on family trust arrangements. PerthNow also frames the fight as a broader political and lobbying campaign involving both the Greens and small business stakeholders.
Overall, while Labor is progressing toward new tax settings for trusts, outlets differ in emphasis: Greens focus on oversight and potential loophole issues, while business groups concentrate on financial and administrative burden. The Coalition also opposes the measure, adding to pressure on the government as the legislation is set for consideration.
