New Tax for Special Trust Accounts

May 14, 2026, 19:30
AustraliaFinance

Introduction

The government will start a new tax on July 1, 2028. People with special trust accounts must pay 30 per cent tax on their money.

Main Body

Rich people often use trusts to pay less tax than workers. The government wants this to be fair. This new tax will give the government $4.47 billion. They will use this money to help workers. Some people will get tax credits. This means they do not pay the tax twice. But companies will not get these credits. Some special groups, like charities, do not have to pay this tax. Some business owners are unhappy. They say this tax is bad for small businesses. They think it will stop people from starting new projects. The government will give people three years to change their accounts to a different type.

Conclusion

The government wants to share wealth better. The other political party wants to stop this new tax.

Learning

🕒 Talking about the Future

In this text, we see how to say things will happen later. We use will + action.

  • The government will start a new tax.
  • This new tax will give the government money.
  • They will use this money.

The Pattern: Subject → will → simple verb

Quick Tip: Use will for plans or promises about the future. It is the simplest way to move from A1 to A2 English.

💡 Useful Contrasts

Look at how the text compares two groups:

Rich people →\rightarrow pay less tax →\rightarrow use trusts Workers →\rightarrow pay more tax →\rightarrow get help from the new money

Key word: Fair If something is fair, it is right for everyone. If it is unfair, one person has an advantage.

Vocabulary Learning

government
the group of people who make and enforce laws for a country
Example:The government will start a new tax on July 1, 2028.
tax
a fee that the government asks people to pay
Example:People will pay a new tax.
money
paper or coins that people use to buy things
Example:They will use this money to help workers.
trust
a legal arrangement where someone holds money for another
Example:Rich people use trusts to pay less tax.
account
a record of money you have or owe
Example:They will give people three years to change their accounts.
workers
people who do jobs for pay
Example:The government wants to help workers.
credit
a benefit that reduces the amount of tax you have to pay
Example:Some people will get tax credits.
charity
an organization that helps people in need
Example:Some special groups, like charities, do not have to pay this tax.
business
a company that sells goods or services
Example:Some business owners are unhappy.
stop
to end or prevent something
Example:The other political party wants to stop this new tax.