Small businesses may face additional financial burdens under Labor’s proposed 30 per cent minimum trust tax. The Greens have announced they will refer the policy to a formal inquiry, delaying its implementation. This move comes as the party prepares to table the measure in parliament.
The digital duty of care laws, also part of Labor’s agenda, are expected to be introduced on Thursday. However, these laws will likely undergo a five-week Senate inquiry before they can proceed to the final sitting period. The Greens are anticipated to support the legislation, but the process will be scrutinized closely.
Labor’s tax and digital policies are part of a broader economic reform package aimed at increasing transparency and accountability. The proposed minimum trust tax targets businesses that operate through trusts, aiming to prevent tax avoidance. The digital duty of care laws seek to regulate tech companies’ responsibilities toward users.
The Greens’ decision to delay the tax proposal reflects growing concerns about its impact on small businesses. The inquiry will assess whether the policy is fair and effective. Meanwhile, the Senate’s review of the digital laws highlights the political challenges of passing major reforms. Both measures remain subject to further debate and adjustment before they can become law.
