Prime Minister Anthony Albanese passionately defended Labor's proposed tax reforms, including changes to negative gearing and capital gains tax, stating they aim to rebalance the housing market for first-home buyers and support aspiration for all Australians. He faced criticism but received a standing ovation at a state conference.
Australian farmers, many using family trusts, face significant tax changes. While primary producer income is exempt from a new 30% trust tax, reforms to capital gains tax on pre-1985 assets and diversified income could increase tax burdens and complicate farm succession planning.
The Supreme Court of India has urged Rani Kapur and Priya Kapur to avoid actions that could derail mediation in the Kapur family trust dispute, warning of a lengthy legal battle if not resolved amicably.
Senators Elizabeth Warren and Ron Wyden are seeking information from Commerce Secretary Howard Lutnick and Tether CEO Paolo Ardoino regarding a reported loan from Tether to a trust benefiting Lutnick's children, citing potential conflicts of interest.
The Supreme Court of India has urged reconciliation in a family inheritance dispute over the Sona Group family trust between widow Priya Kapur and her 80-year-old mother-in-law Rani Kapur. The court expressed concern over the prolonged nature of the dispute and asked parties to go for mediation, noting that extended litigation serves little practical purpose. Rani Kapur has challenged the validity of the Rani Kapur Family Trust, alleging it was set up fraudulently after she suffered a stroke in 2017, when her late son Sunjay Kapur and his wife allegedly took advantage of her vulnerable condition to transfer assets without her consent.
