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Prime Minister Open to Change on 'Death Tax'
Labor may amend its trust tax plan after backlash, but it will still press ahead with CGT changes that could lift housing costs and reshape investment.
- On Friday, Prime Minister Anthony Albanese indicated the government is open to amending proposals for taxing discretionary testamentary trusts, though Labor will proceed with broader capital gains tax reforms.
- Labor's budget introduced a 30 per cent minimum tax on discretionary trusts and replaced the 50 per cent CGT discount with an inflation-indexed model, prompting the Coalition to label the measures a "death tax" by stealth.
- Labor MP Andrew Charlton admitted concerns that the new CGT regime "doesn't interact well" with small businesses possessing low capital bases are "valid," promising Treasury consultations to address impacts.
- Treasurer Jim Chalmers described the backlash as a "scare campaign built on lies," yet recent polling shows One Nation overtaking Labor in primary support following the budget release.
- The broader CGT and negative gearing legislation will be rushed through parliament next month, likely requiring Greens support, while government officials plan months of consultation for trust changes taking effect in July 2028.
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13 Articles
13 Articles
Coverage Details
Total News Sources13
Leaning Left5Leaning Right3Center1Last UpdatedBias Distribution56% Left
Bias Distribution
- 56% of the sources lean Left
56% Left
L 56%
11%
R 33%
Factuality
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