Government's trust tax throws builders and consumers under the bus
Federal Government trust tax changes will hit small building businesses with significant extra costs. Industry groups warn the reforms will hurt both builders and consumers.
Tens of thousands of dollars in additional costs expected for small building businesses under proposed trust tax changes.
How will the Federal Government's trust tax changes affect my building business costs?
Builders running business trusts face tens of thousands in extra tax costs. This could push up project prices for consumers and squeeze already-tight margins for small construction firms.
Key takeaways
- Federal Government is proposing changes to how trusts are taxed, affecting small building businesses.
- Small builders using trust structures could face tens of thousands in extra annual costs.
- Higher business costs are likely to be passed on to consumers through increased project prices.
- Industry is warning the reforms will harm both tradespeople and their clients.
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