Australia’s Labor government has largely walked back a proposed “death tax” after backlash, but reporting across outlets says some inherited trusts will still be caught by the measure. Sources agree that, under the revised approach, certain trusts are still subject to a 30% tax. The coverage describes the change as a partial retreat from the original plan, implying that while the government has removed most of the proposal’s reach, it has retained provisions that apply to particular trust structures or beneficiaries. The articles characterise the update as a backflip and indicate that the final impact depends on whether specific inherited trusts fall within the remaining rules. While there are no additional figures or further policy details in the excerpts provided, the common thread across outlets is that the 30% rate remains relevant for a subset of inherited trusts even after Labor’s adjustments. The reporting therefore centres on the narrowing of the scheme rather than its complete removal.
Labor backtracks “death tax” but some inherited trusts face 30% levy
Australia’s Labor government has largely walked back a proposed “death tax” after backlash, but reporting across outlets says some inherited trusts will still be caught by the measure. Sources agree t...
- Labor largely walks back its proposed “death tax” measure.
- Some inherited trusts are still included under the revised policy.
- A 30% tax rate applies to the trusts that remain affected.
- The final outcome depends on whether particular inherited trusts meet the remaining eligibility rules.
Labor has largely walked back the measure, but some trusts will still be hit with a 30 per cent tax.
2 months agoLabor has largely walked back the measure, but some trusts will still be hit with a 30 per cent tax.
2 months agoLabor has largely walked back the measure, but some trusts will still be hit with a 30 per cent tax.
2 months ago
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