Matt Grudnoff

It's highly likely because, you know, obviously to own these assets, you have to be fairly wealthy.

but they might have a bunch of beneficiaries that are family members, adult family members, that have low taxable income.

And so therefore, they direct the income from these assets to these lower income earning, and therefore they pay less tax.

There is really no good reason for discretionary trusts.

There are other kinds of trusts where there is a good reason, but these discretionary trusts basically exist to avoid tax.

And it's been long overdue that we should see some kind of reform on these.

So basically what happens is if you buy an electric vehicle on a lease system through your work, normally you'd have to pay fringe benefits tax, which is an extra tax on top of that, which really doesn't make it as viable to do it that way.

Just for electric vehicles, for no other vehicles or anything else, but just for electric vehicles, they waive this fringe benefit tax.

which makes it a lot easier for people to lease these EVs.

It basically encourages people to buy EVs.

Now, when they introduced this, they sort of estimated how much it was going to cost.

These costs have blown out because guess what?

People want to drive electric vehicles.

I imagine right now with petrol prices booming and there being a huge increase in demand for EVs, it's probably also lots of people are getting in and trying to use it.

If you'd asked me before the invasion of Iran or the war on Iran, I would have said the government will probably get rid of it because they're looking for budget savings.

But honestly, if you think about the optics right now,

you know, we've got really high petrol prices.

And at that exact moment, the government steps in and gets rid of a subsidy that is allowing people to get into EVs, basically get off or avoid those high fuel costs.

That seems like a trickier thing to do politically.

But look, they may end up doing it.