Labor has repeatedly committed to name the almost 1 million beneficiaries of discretionary trusts on a public register and is now being pressured by the Greens to swiftly implement the undelivered pledge in return for the minor party’s support for a minimum 30 per cent tax on trust distributions.
But financial experts warned that disclosing the names of trust beneficiaries would breach people’s privacy and increase personal safety risks for those receiving monetary distributions.
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