The Art of Estate Planning Podcast
Jun 22, 2026 · 33 min · 14 segments
After four weeks of uncertainty, the Federal Government has announced that testamentary discretionary trusts will be exempt from the proposed 30% minimum tax on discretionary trust income. In this…
Tara LuckeHost
It's been like four weeks and two days or something since we first had an announcement that testamentary discretionary trusts would be subject to a minimum 30% tax without any refundable credits from the federal budget announcement.
And that was intended to apply to all testamentary trusts and discretionary trusts.
Now, we heard in the announcement, there was a press conference and then a media release on the 18th of June that all testamentary discretionary trusts will be exempt.
So they were already exempting deceased estates and fixed testamentary trusts, and they are now exempting testamentary discretionary trusts from that minimum 30% tax as well.
Who said estate planning is boring? It is just changing week by week at this point.
I also think this whole exercise... is indicative that we are not ever going to see a death tax, at least in the short term, in Australia.
Labor have proven that trying to introduce something like that is political suicide.
It's been like four weeks and two days or something since we first had an announcement that testamentary discretionary trusts would be subject to a minimum 30% tax without any refundable credits from the federal budget announcement.
And that was intended to apply to all testamentary trusts and discretionary trusts.
Now, we heard in the announcement, there was a press conference and then a media release on the 18th of June that all testamentary discretionary trusts will be exempt.
So they were already exempting deceased estates and fixed testamentary trusts, and they are now exempting testamentary discretionary trusts from that minimum 30% tax as well.
Who said estate planning is boring? It is just changing week by week at this point.
I also think this whole exercise... is indicative that we are not ever going to see a death tax, at least in the short term, in Australia.
Labor have proven that trying to introduce something like that is political suicide.
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