Will Hamilton
speaker
539 appearances
3 recordings
1 series
first heard May 2026
last heard 3d ago
Will Hamilton’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 3 in all, peaking in Sep 2026 with 1.
Appearances
And the mum and dad that ran this business didn't take a salary.
They took distributions through the trust.
So I think it's concerned a lot of people because of the way they've historically set up their businesses.
And again, we've talked about this quite a number of times that
People establish things based on the rules that existed at the time.
Now, discretionary family trusts, doesn't matter if you've done this as a wealth creation vehicle or it's to operate a business, they're going to be subject to a minimum tax rate of 30% on distributions.
So this significantly reduces the benefit of income distribution to lower taxed family members.
That's another thing as well, where people have used this once a child reaches 18 for income splitting.
at lower rates, well, now you're going to have a minimum tax rate of 30%.
I think the big thing, this does affect professionals.
It does affect business owners, as I just mentioned.
And these business owners don't need to be necessarily big businesses.
They can be these mum and dad businesses that, you know, up and down the high streets, as I mentioned, and families who built structures around legitimate income splitting.
So I think there's three areas that have been affected.
Trust such structures are not going to be obsolete, but their role and effectiveness, it's changed materially.
Is that what you're saying?
Correct.
And this is what I argued back in 2019 when, or 18, when Bill Shorten was looking to run on this and had flagged it, Chris Bowen had flagged all this.
I thought the unfairness of it was, yes, look,
People, you utilize the tax laws that existed on the day.
Showing 461–480 of 539 · page 24 of 27
← Previous
Next →