The Government’s proposed 30% minimum tax on discretionary trusts could have significant implications for some family groups, particularly where trusts distribute income to companies, although the rules remain subject to consultation and aren’t final yet.
For many businesses this will mean simpler pricing, fewer compliance headaches and potentially better margins, but it also means some preparation is needed.
NSW manufacturers looking to adopt advanced manufacturing technology may be eligible for funding under Stage 1 of the Innovative Manufacturing Adoption Fund.