The federal government has announced the introduction of a 30 per cent minimum tax on income generated by discretionary trusts, effective July 1, 2028.

聯邦政府已宣布將自 2028 年 7 月 1 日起，對全權信託產生的所得徵收 30% 的最低稅

The proposed fiscal measure seeks to mitigate tax disparities between income earned via discretionary trusts and income derived from wages. According to Treasury analysis, households utilizing these structures experienced an average tax rate approximately four percentage points lower than those with comparable incomes who did not. The administration asserts that 90 per cent of private trust wealth is concentrated within the wealthiest 10 per cent of households. Consequently, the measure is projected to generate $4.47 billion in its inaugural year, facilitating the funding of a $250 tax offset for workers.

擬議的財政措施旨在緩解透過全權信託獲得的所得與工資所得之間的稅務差距。根據財政部的分析，使用這些結構的家庭，其平均稅率比所得相當但未使用該結構的家庭低約四個百分點。政府聲明 90% 的私人信託財富集中在最富有的 10% 家庭中。因此，該措施預計在第一年將產生 44.7 億美元的收入，用以資助勞工 250 美元的稅務抵免。

Under the new framework, tax liabilities will be settled by the trustee prior to the distribution of funds. Individual beneficiaries will be eligible for non-refundable credits to prevent double taxation, a mechanism analogous to the corporate franking credit system. However, corporate beneficiaries are excluded from these credits, potentially resulting in an effective tax rate of up to 69.7 per cent upon ultimate distribution to individuals. Certain entities, including charitable, special disability, and fixed testamentary trusts, as well as primary production income, remain exempt from this requirement.

在新框架下，稅務責任將由受託人在資金分配前結清。個人受益人將有資格獲得不可退還的抵免以防止雙重課稅，此機制類似於公司的股息抵免（franking credit）系統。然而，法人受益人被排除在這些抵免之外，這可能導致最終分配給個人時的有效稅率高達 69.7%。特定實體，包括慈善、特殊身心障礙及固定遺囑信託，以及初級生產所得，仍可豁免此要求。

Stakeholder responses indicate a divergence in perspective regarding the socio-economic impact. Legal and accounting professionals suggest that the policy extends beyond high-net-worth individuals, potentially affecting approximately 350,000 small businesses that utilize trusts for succession planning and income flexibility. Business advocacy groups, including the Australian Chamber of Commerce and Industry, contend that increased tax burdens may impede investment and innovation. Furthermore, concerns have been raised regarding the potential erosion of private philanthropic capacity and the increased tax burden on assets acquired prior to September 19, 1985, which will now be subject to capital gains tax on growth accruing after July 1, 2027.

利害關係人的反應顯示，對社會經濟影響的看法存在分歧。法律與會計專業人士指出，該政策影響範圍不僅限於高淨值人士，可能還會影響約 35 萬家利用信託進行傳承規劃與收入靈活調配的小企業。包括澳洲工商會在內的商業倡議團體認為，增加的稅務負擔可能會阻礙投資與創新。此外，亦有人擔心私人慈善能力可能受損，以及 1985 年 9 月 19 日前取得之資產的稅負增加，因為 2027 年 7 月 1 日後的增值將需繳納資本利得稅。

To facilitate a transition, the government will provide a rollover relief window from July 1, 2027, to June 30, 2030, allowing taxpayers to restructure into alternative vehicles, such as corporate entities. While some analysts suggest a migration toward company structures may occur due to the 25 per cent corporate tax rate for eligible small businesses, others maintain that the inherent lack of flexibility in corporate models may deter such a rapprochement.

為了促進過渡，政府將於 2027 年 7 月 1 日至 2030 年 6 月 30 日提供轉移寬限期，允許納稅人將結構重組為其他形式，例如法人實體。雖然部分分析師認為，由於合資格小企業享有 25% 的公司稅率，可能會促使轉向公司結構，但其他人則認為公司模式固有的缺乏靈活性可能會阻礙此類轉型。

The government intends to rebalance wealth distribution through these tax adjustments, while the opposition has pledged to repeal the measures.

政府意圖透過這些稅務調整來重新平衡財富分配，而反對派則承諾將廢除這些措施。