I see you haven't quite represented Labors tax on Discretionary funds properly so I thought I would correct that.
I have highlighted exactly what is happening. In short if you are paying your tax at a less rate than 30% the disbursment will be taxed at 30% but it will only be taxed once and most likely in that benificiary's normal tax.
In reality what will happen is nothing at all. In some cases where the person pays less than 30% tax they may lose a little bit.
Disbursements to adults have always been taxed in the normal course.
Personally I seriously doubt this will happen because most politicians including those in Labor operate out of a family trust fund.
Never gonna happen.
Labor plans 30% tax on discretionary trust distributions to those over 18
Aug 2017
On 30 July 2017, Opposition leader Bill Shorten announced that a Labor Government, if elected, would introduce a standard minimum 30% tax rate from 1 July 2019 for discretionary trust distributions to mature beneficiaries over age 18. In circumstances where the minimum tax rate on discretionary trust distributions is lower than what would be paid under the normal marginal tax scales, the higher rate would apply.
