Matt Grudnoff

And right now, when again, it's gone up with the Strait of Hormuz being closed, we've got a super profit tax that's supposed to take advantage of that and bring in extra money.

And guess what?

It hasn't increased tax at all.

Basically, the gas industry helped write this petroleum resource rent tax.

You might have heard that term, PRRT.

They helped write the PRRT and they did a great job writing it because they pay virtually none of it.

And people are outraged and they want to see change.

Yeah.

Yeah, so this is a great thing.

A trust basically has lots of different forms, but the ones that we're mostly looking at are what are called discretionary trusts.

So a trust is just that you have an income earning asset.

So that might be an investment property.

So it earns rent.

It could be a bunch of shares that earn dividends.

It might even be a business that earns profit.

And you stick it in this trust.

And then the boss of the trust, the person who runs it, basically decides where the income from that trust goes.

And there's a bunch of other people around it who are beneficiaries of the trust.

And he can basically direct the money wherever they want it to go.

And the problem with that is, is the person who owns the trust or is the boss of the trust might be a high income earner.