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Labor’s 30% trust tax to raise $7.7 bn

Labor’s 30% trust tax to raise $7.7 bn

Labor’s plans to introduce a 30 per cent tax on discretionary trust distributions to adults will rake in $7.7 billion over the forward estimates, close to double its initial costings.

  • Shared by Accountants Daily
  • May 10, 2019
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According to a new costing by the Parliamentary Budget Office, Labor’s proposal will claw back $7.69 billion worth of revenue over the next three years and $26.9 billion over the next decade.

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