Bill Shorten will unveil new policy, which is expected to raise $4.1bn in revenue over the first four years of a Labor government

Labor will impose a 30% tax rate on distributions from discretionary trusts in an effort to crack down on income splitting and aggressive tax minimisation by high wealth individuals.

Bill Shorten will unveil Labor’s new policy at the New South Wales party conference on Sunday. The measure is expected to raise $4.1bn in revenue over the first four years, and $17.2bn over the medium term, and take effect from 1 July 2019.

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