Labor’s trust tax plan ‘risks jobs and housing supply’

Detailed summary

Business and industry groups have united to warn that the changes put thousands of businesses at risk and will cause housing projects to fall.

Major business and industry groups have united to warn that Labor’s proposed discretionary trust tax changes will threaten thousands of small businesses, jobs and the housing supply if approved by the Senate in their current form.

The government wants to ram through a new tax on discretionary trust distributions in the next fortnight before parliament finishes for the year, but it faces significant opposition from the Coalition, Greens and business groups who say it could destroy small businesses already under pressure from the cost-of-living crisis and fuel increases from the Middle East conflict.

Opening of the article, excerpted from Australian Financial Review. To read the rest, open the article on the publisher's site.