Government considers backflip on trust tax changes | Sunrise

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The Albanese government faces backlash over proposed trust tax changes, with reports suggesting potential reversals on discretionary testamentary trusts. Health Minister Mark Butler clarifies that existing trusts established before the budget will be grandfathered and remain unchanged, while new discretionary testamentary trusts will face minimum taxation from July 2027. The budget changes aim to create more equitable tax treatment between wage earners and investment income, but have drawn criticism from small business owners and opposition leaders who argue the measures amount to new taxes not promised before the election. Get the latest news » https://7news.com.au 7Plus » https://7plus.com.au/ More from Sunrise » https://sunrise.com.au Subscribe to Sunrise » https://7news.link/SunriseSubscribe Subscribe to the Sunrise newsletter » http://7sunrise.link/Newsletter Connect with Sunrise online: Facebook » https://www.facebook.com/Sunrise Instagram » https://www.instagram.com/sunriseon7

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