Minimum tax on discretionary trusts
The Housing Industry Association has come out against a proposed minimum tax on discretionary trusts and the related Excluded Election Trust regime. No further detail on the policy mechanics is provided in the article.
Will the new minimum tax on discretionary trusts affect my building business structure?
Builders and trade contractors who operate through discretionary trusts could face higher tax bills if this policy proceeds, affecting business structure decisions.
Key takeaways
- The HIA formally opposes a proposed minimum tax targeting discretionary trusts.
- A new Excluded Election Trust regime is also part of the proposal and draws HIA criticism.
- Many builders and trade contractors use discretionary trusts, so this policy could affect them directly.
- No details on tax rates or implementation timeline are provided in the article.
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