Last year’s Federal Budget included a proposal that will alter the rules for estate planning. The change that may alter the information contained in this module includes:
1. From 1 July 2019, the concessional tax rates available for minors receiving income from testamentary trusts will be limited to income derived from assets that are transferred from the deceased estate or the proceeds of the disposal or investment of those assets.
This change is still only a proposal at the time of writing (1 July 2019) and legislation needs to be passed to make it effective. Changes could be made or the proposal may be rejected.