Today, Cowell Clarke’s Tax & Revenue team made a submission to Treasury on the Exposure Draft legislation for the proposed Minimum Tax on Discretionary Trusts (MTT) regime.
The team raised concerns about the potential impact of the proposed regime on businesses, investors and families using discretionary trusts for legitimate asset protection and succession planning purposes. The team also addressed practical issues with the proposed transitional roll-over relief and Excluded Election Trust regime, and called for greater certainty, flexibility and consultation in the development of the measures.
Click to read the submission here.
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