Politics live: Ryan ‘not bothered’ by possible Frydenberg return; Lambie accuses Labor of ‘financial coercion’ over FOI

Australian politics is dominating headlines as Assistant Treasurer Daniel Mulino confirms Labor's proposed trust tax bill will not be watered down. The bill aims to impose a minimum 30% tax on discretionary trusts, a move aimed at increasing fairness in the tax system. This decision is significant for the economy, as it could impact investment and wealth distribution in Australia, potentially influencing the performance of the S&P/ASX 200.

Why it matters

The Australian government is maintaining its stance on the trust tax bill. This decision could impact investor sentiment and market confidence in the country's economic policies.

Market impact

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Likely winners & losers

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