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The Assistant Treasurer Bill Shorten MP has made another announcement affecting the taxation of trusts and has made available exposure draft legislation (ED
On 4 March 20011, following an announcement by the Assistant Treasurer, Treasury released a discussion paper on measures to alleviate uncertainty in the taxation of trust income in light of the High Court decision last year in Commissioner of Taxation v Bamford
In response to the Henry Review, which recommended providing a discount for income tax purposes on interest income from savings, and taking into account industry submissions from various bodies, the Government has decided to give individuals a 50 tax discount on up to $1,000 of interest income earned per financial year
