Income Tax Rates Amendment (Minimum Tax on Discretionary Trusts) Bill 2026

Dr CHALMERS (Rankin—Treasurer) (09:34): I move: That this bill be now read a second time. This bill amends the Income Tax Rates Act 1986to ensure that the net income of discretionary trusts is subject to a minimum tax rate of 30 per cent for income years commencing on or after 1 July 2028. It operates in conjunction with the core legislation in the tax reform No. 3 bill, which I just spoke at length about, and, for all of the reasons I outlined in that speech, I also commend this bill to the House.

Debate adjourned.