Peter Rogers

@genericmicrobe @JimThom90458694 Yep. Now everyone needs to change their will to a fixed trust which then means the assets are exposed to creditors. Seriously this govt are a bunch of mindless wankers.

@PeterOfPerth @JimThom90458694 Yep I have that set up so my young children don’t get a relatively large amount when young and unable to deal with it (imagine getting a mill or so when say 18!! ) . This government have either no morals or no brains… or worse neither

The Albanese government will introduce a minimum 30% tax on income from Testamentary Discretionary Trusts from 1 July 2028. These trusts are commonly used in wills to distribute inherited wealth to family members in a tax-effective way and protect assets from divorce, bankruptcy, and legal disputes. Testamentary Fixed Trusts are excluded and will keep their concessional tax treatment. The difference is that discretionary trusts let trustees change how income is split, while fixed trusts lock in each beneficiary’s share. Estate planning expert Rachel Rofe called it a “death duty by any other name” and said there was no prior warning. When confronted by Today Show host Sarah Abo about breaking promises and potentially introducing a death tax, PM Anthony Albanese denied it, saying: “No. These are the positions that we're put in, Sarah.” The Albanese government will introduce a minimum 30% tax on income from Testamentary Discretionary Trusts from 1 July 2028. These trusts are commonly used in wills to distribute inherited wealth to family members in a tax-effective way and protect assets from divorce, bankruptcy, and legal disputes.

@MarkDiStef But it’s absolutely true.

Absolutely shameful. Deserves total mockery.

@ElbK19 GST is a regressive tax and is a terrible idea because it makes inequality much worse. It’s great for wealthy ppl like Kohler.

Alan Kohler: We don’t tax consumption or wealth enough. Yes, yes, yes!! 👏🏼 #insiders

@MarkoMatvikov Raise pension and preservation age to 75. Tax all passive income at 30% minimum (superannuation, rent, dividends and interest). Introduce 1% wealth tax on the family home. Introduce 30% death tax. Introduce 30% royalty on resources. Increase dole to $150,000. Socialist heaven.

“Direct all investment into super” “Done” “Now raise the age they can access it”

@88888sAccount About 1 million Aust businesses lodge a trust return. Let’s say they split $150k between spouses instead of 1 spouse earning it all. The tax saving is $10.4k per trust. That’s less than 3% of all income taxes. A rounding error. Govt waste is much larger. Probably 20 fold larger

this shit is why 47% taxes exist

@celinevmachine_ One Nation policy is to slash immigration and legislate sex is binary: male or female from birth.

So you're mad about the Tickle v Giggle judgement? Good. Here's what we can do.

@DirtMccGirt @OMGTheMess Incorrect. Change the structure from a discretionary trust to a fixed trust and the income taxes are identical. Govt gets zero extra tax. Nothing changes except loss of asset protection.

@PeterOfPerth @OMGTheMess They can still do that, no changes there. The only outrage is from those not paying their fair share.

So Hugh doesn’t know how trusts work Wow

@merkin_about Incorrect. The same tax outcome can be achieved via a company. The major reason to use a trust is for asset protection and because it’s cheaper.

The Owner has her business set up as a Trust. I always figured it was so she had to pay less tax. I really hope that means these changes will directly affect her rich nasty arse. abc.net.au/news/2026-05-1…

@saulkavonic @australian @clairlemon Absolutely 100%. Classic socialism. The workers get poverty. The ruling class gets unbridled luxury. Happens every fucking time.

I grew up Labor. Now I see the real inequity. It’s not intergenerational theaustralian.com.au/inquirer/i-gre… Excellent article via @australian @clairlemon

@ausstockchick Worse off and a whole lot dumber.

Gen Z broadly helped Labor win through both direct votes and Greens preference flow. They voted to never have opportunities to create wealth. The first generation to be worse off than their parents. #auspol

@OMGTheMess 100%. The exact same outcome can be achieved by using a company. The main reason to use a trust instead of a company is for asset protection and cost.

@DirtMccGirt @OMGTheMess Incorrect. Primary reason is for asset protection.

@OMGTheMess Seems pretty clear that many are set up purely for tax avoidance.

@DrewPavlou Top rate in the US is 37% above $894,000. Top CGT is 20% and only applies if your ordinary income is above $778,000. What we pay in Aust is the price of socialism.

Taxes are too high in Australia It’s ridiculous that the top tax rate kicks in at a level where you still couldn’t even afford an average house in Sydney

@babraham93802 @Commoncents21 Yep 100% tax rate. Anything less is an unfair tax break

@Commoncents21 The 21 year old working student should pay more tax. Any tax she isn’t paying is a tax break from the government and undeserved.

Well a 21yo working university student pays their fair share of tax but a privileged 21 yr old working university student tucked under a trust, pays zero tax or very little tax. Most unfair. Thanks Hugh and AFR. 👏

@Commoncents21 What absolute bullshit. They both pay the identical tax on the same income. Not a cent of difference

@bowtiedstocks In a crisis don’t panic. But if you do panic be the first.

I didn’t think it was going to be good, and it certainly wasn’t My advice once more - if you need to panic and sell, panic early!! Godspeed

@OMGTheMess What species is this? It looks and sounds humanoid. But no human is this fucking stupid. Maybe this is why that put instructions on shampoo bottles.

Oh dear

@chrisbrycki Champagne retirement for boomers. Dole office and tent city for youngsters. Chin chin fuckwits.

Jim Chalmers’ fifth budget may ultimately be remembered for three political miscalculations: 1.Believing Gen Z has given up on aspiration 2.Believing Gen X and Millennials won’t feel betrayed 3.Unintentionally favouring Baby Boomers My opinion piece in today’s Australian.