Comment on The $2.9 trillion corner of Australia's economy at the centre of a tax war

Alexstarfire@lemmy.world ⁨2⁩ ⁨weeks⁩ ago

I must be missing something major because the numbers don’t make sense to me. They are going to impose a minimum 30% tax on a bunch of trusts. Trusts are making $600 billion a year. But they only expect to make ~$4.5 billion in taxes per year? 30% of $600 billion is $180 billion. Why wouldn’t they be making far more with this tax? Does it target only the small trusts? Seems like a lot of the profit of these trusts is just being ignored for some reason.

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