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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.
The Higher Everyday Living Fee (HELF) has replaced the Extra Service Fee and Additional Service Fee as part of the new aged care rules which came into effect on 1 November 2025. The intent is to provide protection to residents purchasing additional services with their residential aged care.