Government introduces 30% minimum tax on discretionary trusts from 2028

The Albanese government introduced the Income Tax Rates Amendment (Minimum Tax on Discretionary Trusts) Bill 2026 on 14 October 2026. It would put a minimum 30% tax on discretionary trust income from 1 July 2028. Chalmers says it would mean a fairer system and fund worker tax cuts. I've heard that line before; the Treasury numbers will test it.