Federal Treasury has ramped up scrutiny of family trusts, revealing that about 1.7 million people received income of almost $60 billion from the tax-friendly trust vehicles.
Trusts are often used by families, professionals, private businesses and farmers to protect assets and split investment income between beneficiaries, to take advantage of lower marginal tax rates.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
