The Wise Accountant
Region: AU
Wednesday 27 May 2026 07:48:55 GMT
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badamj :
ppl cant hide their wealth in trusts. we all have to pay tax
2026-05-27 12:47:38
28
paul hermansen :
This is double taxing our money!
2026-05-27 08:53:15
41
terencegates5 :
Inheritance tax, why should 3% be able to avoid taxes that others have to pay?
2026-07-05 00:53:21
0
jethrotigers :
It is going to impact people with disabilities. Set up a trust to distribute income to them and they don't get to use their tax free threshold. How is that a fair and just outcome?
2026-05-27 19:22:12
26
DilettanteFish🇦🇺 :
Taxing people on taxed money is totally immoral
2026-05-28 02:38:25
22
Goop :
Lucky I’m not rich enough to have to worry about this
2026-05-27 10:32:15
4
Hungry Jaks :
only rich people have trusts. i dont have a problem with this trust tax
2026-05-27 14:35:12
4
Twccam :
Since 1 trust can serve a whole family, is more like 20%
2026-05-27 08:28:05
20
SDaniel :
It’s a death tax
2026-05-27 08:04:35
52
guruz33 :
So should we not tax the "income" generated from the asset? How that asset was formed is irrelevant. 30% tax is on the "income" distributed to the beneficiaries, not on the return of capital? Please clarify.
2026-05-27 09:51:03
10
Denise Anderson805 :
Yep I have children under the age of 18 I’m a single mum and if anything happens to me my while there children they inherit everything but it goes into a trust for them till they become 25 so it protects there future im not rich I just have a house I worked my ass off for no other assets other than super which I don’t have much of either
2026-05-27 21:06:47
7
Legohead :
Why would you need a testamentary trust? Doesn’t a Will let you distribute your assets on death?
2026-05-27 08:31:53
6
Mo Gong Fai Wa :
Why does Australia have more trusts per capita than the UK and the US? Tax shelter much.
2026-05-28 21:14:55
2
Srcj :
As an accountant shouldn’t you be waiting until the legislation is drafted before commenting on the effects?
2026-05-27 08:53:09
5
Tim Sevenson :
they announced that testamentary trusts are excluded from these new rules
2026-05-27 13:46:02
1
Mr G :
Makes me so angry 😡
2026-05-27 08:31:39
22
Artagel64 :
testamentary trusts are a small fraction of discretionary trusts and existing ones are grandfathered. There are only about 10000 registered testamentary trusts in Australia. Just more fear mongering to protect the wealthy
2026-05-28 00:52:03
6
Aussie-BOER :
And 30 million are not all taxpayers. So percentage even higher.
2026-05-28 09:53:14
0
Patch it up , be fine . :
The budget was in reality a huge tax grab . There was actually nothing in it even for ‘young home buyers’ . And the debt still keeps growing. The interest still keeps growing.
2026-05-27 21:56:39
2
Seamus_Plummer :
Also, just having a trust doesn’t put you in the top 3% many trust owners earn less than a lot of wealthy people.
2026-05-27 23:19:38
2
LD :
So if you don’t have a family trust you don’t need to worry about
2026-05-27 14:07:11
0
mihali99 :
I thought testamentary trusts that exist on budget night are excluded.
2026-05-27 08:11:08
1
mkod :
Correct me if wrong - the new tax rate is only a disadvantage to those who would be under a 30% marginal tax rate? if your marginal tax rate is more than that then it would have no effect?
2026-05-27 08:34:56
1
JP :
It’s actually closer to 5% as the whole 27million people are not of working age.. about 18million are working age.
2026-05-27 21:24:19
2
Mini :
top 3% are also still the richer of us all
2026-05-29 07:03:20
1
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