The proposed minimum tax regime for discretionary trusts should not proceed in its current form. It would operate punitively for family and business trust groups that legitimately use corporate beneficiaries or have accumulated trust losses, imposing significant costs, complexity and uncertainty on middle market taxpayers.
Pitcher Partners is calling on the Government to adopt a simpler alternative that would achieve the its policy objective without forcing affected trust groups into costly restructuring or complex elections. Our submission to Treasury outlines a simpler and more practical model that protects the integrity of the tax system while avoiding unnecessary disruption for established trust structures.
You can read our submission below
