The NFF welcomes the opportunity to provide feedback on Treasury’s consultation regarding the proposed introduction of a 30 per cent minimum tax on discretionary trusts from 1 July 2028.
The NFF recognises the Government’s objective of improving the fairness and integrity of Australia’s tax system. We strongly welcome the Government’s recognition that discretionary trusts play a legitimate and important role within Australian agriculture and that primary production income will be exempt from the proposed minimum tax.
The NFF’s full submission can be found here.