Trust tax set for inquiry as businesses question costs

要点

• The Greens will seek a Senate inquiry into Labor's proposed tax on discretionary trusts after the government offered small firms a way to avoid it. Greens economics spokesman Nick McKim said the carve-out could let people with trusts off too lightly.
• Treasurer Jim Chalmers is due to introduce the legislation, but it is now unlikely to pass before late 2026. Business groups estimate compliance costs could reach billions of dollars, and say trusts are used for legitimate reasons.
• Chalmers has argued the structures let some wealthy Australians plan their tax affairs in ways most workers cannot.