Fed: ACOSS condemns govt backdown on trusts
The country's leading welfare group has condemned the government's backdown on a commitmentto fight tax avoidance through the use of family trusts.
The government effectively abandoned efforts to stamp out tax evasion through the useof trusts when it agreed on Thursday to only minor changes to entity taxation.
The Australian Council of Social Service has called the backdown an unwarranted $700million Christmas present to wealthy tax avoiders.
ACOSS president ANDREW McCALLUM says the government made a clear commitment in 1998to crack down on rampant tax avoidance through trusts.
AAP RTV jph/ds/jas/wz
KEYWORD: TRUSTS (CANBERRA)
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