Half of charities could be hit by 30pc trust tax

Half the charities in Australia could have their donations cut due to the Albanese government’s planned 30 per cent tax on distributions from discretionary trusts, despite efforts by Labor to soften the blow. The primary target of the proposed 30 per cent minimum tax on discretionary trust distributions is tax minimisation and income splitting by wealthy families and small businesses, a measure that would raise more than $4 billion extra revenue a year for the government.