Stories about who has family trusts collected below.
From the AFR on July 24th:
The Labor Party’s clampdown on trusts is likely to hit hard on Coalition ministers, most of whom have a family or business trust, an analysis of the politicians’ register of interests shows.
The Australian Financial Review analysis of politicians’ register of interests shows 13 out of 22 Coalition ministers are either a beneficiary or trustee of a family or business trust. Only four of 22 shadow ministers disclosed that they were either a trustee or beneficiary in a family or business trust.
The Aus, July 25th:
Bill Shorten is facing a war with small business over an imminent Labor policy to increase taxes and generate billions of dollars in government revenue, fuelling fears of a hit to more than 700,000 employers using trusts to run their operations.
The Opposition Leader has sparked a backlash against his tough new talk on tax reform as business groups warn that jobs could be lost from new laws that overhaul family trusts and other tax arrangements.
More than a dozen federal Labor MPs use family trusts or have them as part of their extended family arrangements, lending weight to industry arguments that trusts should not be demonised in pursuit of tax revenue.
Parliamentary records show Labor MPs including Amanda Rishworth and Stephen Jones disclosed family trusts on their register of interests, often because of their use by other members of their families.