Thursday, 3 September 2026

Statement- Discretionary Trusts Exposure Draft Legislation  

Small and family businesses have spent the last four months seeking legal, financial and valuation advice and told their restructure costs could be $50,000, all because our taxaholic Treasurer can’t keep his hand out of the small business till and kick his spending and inflation addiction.

The Albanese government’s Budget has been filled with tax landmines, and now Jim Chalmers has been forced into yet another humiliating backdown as his trusts tax has blown up small businesses.

The Treasurer said we need to build trust, by breaking trust to put a tax on trusts, and now it seems they can’t even keep their broken promises on trusts.

With record insolvencies the one thing small business doesn’t need is Jim Chalmers forcing them to pay thousands, and possibly millions, for financial and legal advice, valuations and stamp duty.

[ENDS]