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When most people think about passing on wealth, they picture a simple process: build it up over a lifetime, then hand it down to the next generation. In reality, it can be far more complex - and getting it right can make a significant difference to your family’s long-term financial wellbeing.
The recent Federal Budget has brought discretionary (family) trusts firmly back into the spotlight, with proposed changes that could reshape how these structures are used over the coming years. At the centre of the announcement is a proposal to introduce a minimum 30% tax on discretionary trust income, expected to apply from 1 July 2028. While not yet legislated, the measure signals a clear shift in policy direction.
Retirement is a time to enjoy your well-earned freedom and comfort, but choosing where to live can be one of the most financially complex decisions you’ll make. While retirement villages are a well-known option, they’re just one of several choices available to Australians, each with their unique lifestyle and financial implications.
From 20 September this year, deeming rates will increase for the first time since the Covid-era freeze. This change may affect people whose payments and benefits are determined by the income test. The announcement confirms that rates will gradually return to ‘pre-pandemic settings’ with staged increases to take effect in the future. Increases will be realigned from 1 July to the same time that payments are indexed (expected to be 20 March and 20 September).

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When most people think about passing on wealth, they picture a simple process: build it up over a lifetime, then hand it down to the next generation. In reality, it can be far more complex - and getting it right can make a significant difference to your family’s long-term financial wellbeing.
The recent Federal Budget has brought discretionary (family) trusts firmly back into the spotlight, with proposed changes that could reshape how these structures are used over the coming years. At the centre of the announcement is a proposal to introduce a minimum 30% tax on discretionary trust income, expected to apply from 1 July 2028. While not yet legislated, the measure signals a clear shift in policy direction.