Carrington Clarke

And one of the interesting things when it comes to the new taxation arrangements around discretionary trusts is they're giving people a couple of years to get ready to change their arrangements.

But they still are expecting this change in the first year that it occurs, which is right at the end of the forward estimates, which are over four years, something like $4.7 billion.

I mean, that's a big hunk of change that the government is going after.

And their argument is,

that these trusts aren't being used in the way that they should.

There are carve-outs too, particularly for farmers, a few different circumstances.

Yeah, that's exactly right.

But they do believe that there's money to be gotten.

And they also believe that people aren't going to feel overly sympathetic to people with these family trusts if what they're trying to do is just minimize their tax.

So they think this is a battle that they can fight.

It is fascinating seeing how many battles they've decided to take on kind of at once, right?

Particularly given the economic circumstances that we're in.

Yeah, so part of the government's argument when it comes to whether or not this is going to add to demand and therefore going to add to inflation is that their net position is actually better than it was going to otherwise be.

So the deficit won't be as big.

And so they say they've found lots of savings and therefore they're doing their part to bring down inflationary pressure.

And that helps the RBA when it's trying to use interest rates to also bring down inflation.

I think part of the difficulty here when you look at

the economic circumstances we're in.

We talk about this energy crisis.

We know huge interruption of global supply of oil.