Greens concerned private school fees paid out of trusts could escape Labor's 30pc tax
The Australian Greens are opposing a loophole in Labor's proposed trust tax legislation that would exempt private school fees paid from discretionary trusts. The party argues this creates an unfair tax break for the wealthy.
Why it matters
This highlights the political tension surrounding tax reform and the debate over wealth inequality in the Australian education system.
Nick McKim has accused Labor of 'watering down' its trust taxation plans. ( ABC News: Ebony ten Broeke/Matt Roberts )
The Greens say a "loophole" for private school fees is a sticking point in Labor's proposed trust laws.
Jim Chalmers will introduce legislation for the 30 per cent minimum tax on discretionary trusts on Wednesday, amid stiff business opposition.
Labor requires the support of the Greens in the Senate to pass the tax hike, given that the Coalition is opposed.
Link copied Share Share article Parents who pay private school fees from their trust funds could escape Labor's proposed trust tax, in what the Greens say is a "loophole" that must be closed.
Treasurer Jim Chalmers will today unveil a bill to impose the 30 per cent minimum tax on some trusts.
The budget proposal has enraged the business lobby and unnerved Labor backbenchers anxious about small business hostility.
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