Summary
Part of a package of 11 bills to fund the Commonwealth’s contribution to the National Disability Insurance Scheme, the bill amends the
Taxation (Trustee Beneficiary Non-disclosure Tax) Act (No. 1) 2007
to increase from 47 per cent to 47.5 per cent the rate of trustee beneficiary non-disclosure tax where a share of the net income of a trust is distributed to the trustee of a closely held trust.