The intent of the initiative to impose a minimum 30% tax on discretionary trusts is to eventually bring all discretionary trusts (termed "minimum tax trusts") within the tax net. We cover the fundamental issues at this point in time.

We look at SMSF property valuations and related-party leases, and the importance of having appropriate evidence ready to support market values and arm’s-length rental arrangements during the annual audit.

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.

We outline essential tax strategies for sharing economy income. Learn how to manage your sharing economy earnings and avoid surprises at tax time.

Knowing how the car threshold rules work before signing a contract can help you make a more informed decision and potentially improve your overall tax and cash flow position.

If your company or trust earns income mainly from your personal efforts, review your arrangements against the ATO’s updated guidance to avoid costly issues.