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Two women are discussing on trusted advice with a coffee in one hand and laptop on the coffee table.

Submission to The Treasury on Minimum Tax on Discretionary Trusts

Vinnies backs the 30% minimum tax on discretionary trusts but urges Treasury to exempt DGR donations so charitable giving incentives aren't lost.

Trust Tax Reform: Protect Charitable Giving

<a href="/media/adhpardy/submissionplusminimum-tax-on-discretionary-trustsplusst-vincent-de-paul-national-council.pdf" title="Submission to The Treasury on Minimum Tax on Discretionary Trusts" target="_blank" class="primary-button-yellow" rel="noopener">Download the full submission here</a>
RE: Minimum tax on discretionary trusts
The St Vincent de Paul Society National Council of Australia (the Society) welcomes the opportunity to&nbsp;provide a submission on the implementation of the Government's proposed 30 per cent minimum tax on&nbsp;discretionary trusts.
The Society supports a fair, equitable and sustainable taxation system that raises sufficient revenue to fund essential public services and Australia's social safety net. As outlined in Towards a Fairer Australia, the&nbsp;Society believes Australia's tax system should ensure that those with the greatest capacity to contribute,&nbsp;including those with high incomes and accumulated wealth, pay their fair share.
Accordingly, the Society supports the Government's proposed reforms to the taxation of discretionary trusts&nbsp;as an important measure to improve the fairness and integrity of Australia's tax system.&nbsp;This submission addresses one implementation issue only.
The Society is concerned that, unless clarified, the proposed minimum tax could unintentionally reduce&nbsp;incentives for charitable giving. In considering this issue, the Society broadly supports the implementation&nbsp;approach proposed by the Australian Council of Social Service (ACOSS), which preserves existing&nbsp;incentives for donations to Deductible Gift Recipients (DGRs) while maintaining the integrity of the reforms.

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