00:01Seeking certainty in love and predictability in planning.
00:07Any tips on wedding planning?
00:09Don't let the little details worry.
00:12When the only guarantee in life is death and taxes.
00:17My job is to put in place good policies to make a difference for people.
00:21Just days after the government clamped down on negative gearing and the capital gains tax discount,
00:27auction clearance rates in Sydney fell to levels not seen since the start of the pandemic.
00:33We are seeing a lot more investors in the Sydney market than Melbourne
00:36and probably some pullback early based on what we saw in the budget.
00:41The first post-budget opinion polls published suggesting a slump in support for Labor.
00:46We've taken some difficult decisions. We've taken a political hit for that.
00:50This budget was an absolute stinker.
00:53As the opposition gears up for a fight over Labor's trio of tax changes and trust.
00:59This is simply a death tax by stealth.
01:02From July 2028, the budget includes a new 30% tax on discretionary trusts,
01:07including discretionary testamentary trusts.
01:10These are set up within a person's will and come into effect after their death
01:14and give a trustee the power to decide how and when the income is distributed among beneficiaries.
01:20Existing trusts are exempt, but from 2028 new ones will be hit.
01:26There are carve-outs. To avoid the new tax, families can use fixed testamentary trusts
01:31where the trustee has no say over distributions.
01:35Special disability trusts, charitable trusts and deceased estates also exempt.
01:40It's best not to listen to the scare campaigns.
01:44Of the estimated million trusts in use, only around 10,000 are the testamentary trusts in question.
01:50The Treasurer rejects suggestions his new tax amounts to a death tax.
01:55But Labor is sensitive to the claims, having faced a similar scare campaign in the lead-up to its shock
02:01election loss in 2019.
02:05If a woman holds money in touch with the
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