AustraliaThe Australian government, led by Treasurer Jim Chalmers, has proposed a workaround to help small businesses avoid additional costs associated with stamp duty while restructuring to comply with the new 30% trust tax introduced in the May federal budget. This tax targets discretionary trusts, which allow flexible income distribution among various beneficiaries. Concerns arose that restructuring away from these trusts would trigger state-level stamp duties, creating a financial burden for small businesses. To address this, the draft legislation allows businesses to maintain their discretionary trusts but restrict their use to fixed distributions, thereby avoiding the trust tax. Additionally, the proposal includes exemptions for charitable donations and other specific cases. The tax is set to take effect in mid-2028, with several exemptions already in place.
Bias read (Center): The article presents the government's proposed solution to a potential problem faced by small businesses due to the new trust tax. It outlines both the concerns raised by business groups and the government's response without overtly favoring either side. The framing remains neutral, focusing on the
