Penny Wong SA, Australian Labor Party, Minister for Foreign Affairs
2:58 pm
Thank you to Senator McGrath for the question. I make the same point I made in response to Senator McKenzie, I think it was. It is the case the government is introducing a minimum 30 per cent tax on distributions from discretionary trusts from July 2028. It is the case that the vast majority of Australians will not be affected. As I said, 95 per cent of Australians do not receive income from a discretionary trust. As a result of that tax package—those changes—we have been able to provide a tax cut, for every working Australian. Herein lies the rub for those opposite. They have committed to roll back these tax changes, which inevitably—
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