This article was written by Grace Blake Solicitor at W & G Lawyers.
Recent headlines surrounding the federal Budget left many Australian families concerned about the future of their estate planning. With the government proposing a new 30% minimum tax on discretionary trusts, many people questioned whether one of the most powerful protective structures available, the Testamentary Trust, was about to lose its primary financial advantages.
Fortunately, the government has officially confirmed that all types of discretionary testamentary trusts will be exempt from the proposed 30% minimum trust tax.
This announcement is a monumental win for everyday families. It ensures that Testamentary Trusts remain one of the most effective, tax-positive vehicles for protecting and passing down generational wealth.
This article explains how the exemption works, why this structure is uniquely beneficial under Queensland law, and how it can safeguard your family’s financial future.
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