CPA Australia raises $2.8 billion alarm over trust reform plan
Small businesses and families running a discretionary trust could shell out purely for professional advice, CPA Australia says.
Small businesses and families running a discretionary trust could shell out $2.8 billion purely for professional advice, CPA Australia said, as the federal government hashes out plans to overhaul a common business structure.
Consultation on plans to introduce a new 30% minimum tax on discretionary trusts from July 1, 2028, and a carve-out for trusts that ‘lock in’ distributions, closes on Friday.
A CPA Australia submission, first seen by The Australian, finds the cost of those government reforms could spiral into the billions – before actual tax and restructuring costs are even taken into account.
Sign up to continue
You've reached your article limit. Create a free account, or log in to continue.
Get our free newsletters in your inbox and extended article access by submitting your email.
Comments