One Nation is dissolving and re-establishing branches amid internal risks, while housing advocates urge support for Labor's negative gearing and capital gains tax reforms. Feral horse numbers surge in Kosciuszko National Park, and Israel deports activists seized from a Gaza-bound flotilla.
Australia's budget proposes a 30% minimum tax on new discretionary trusts, exempting deceased estates and existing testamentary trusts. While critics label it a 'death tax,' experts argue it targets tax minimization, not inheritance value, though it may increase taxes on intergenerational wealth transfer.
The Australian budget's changes to capital gains tax and trusts are met with 'hysteria' from vested interests and conservatives, who are pushing 'lies' about housing market collapse and 'death taxes'. The article debunks these claims, arguing the changes are progressive and affect a small minority.
Australia's federal government is implementing a 30% minimum tax on discretionary trusts from July 2028. Other budget measures include divestment orders for Chinese shareholders in Northern Minerals, Coalition plans to restrict welfare access for permanent residents, and changes to negative gearing and capital gains tax aimed at boosting housing supply.
The Coalition criticizes Labor's budget, labeling changes to discretionary trusts a "death tax" and questioning housing policies. Treasurer Chalmers defends the budget, aligning tax on assets with wages and addressing housing affordability.
