Victorian Labor has promised to waive stamp duty for restructures forced by the Albanese government’s changes to discretionary trusts, in an election pitch targeted at small businesses facing economic headwinds.
Treasurer Colin Brooks said the state did not want to penalise businesses that restructured their financial affairs because of the federal crackdown on trusts and other tax changes in the May budget, which he also revealed has punched a multibillion-dollar hole in Victoria’s coffers.
Gift articles to anyone you choose each month when you subscribe.
