Budget’s tax changes to hit GPs: Increase in the trustee tax rate comes into effect next April

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Budget’s tax changes to hit GPs: Increase in the trustee tax rate comes into effect next April

Stephen
Forbes
Contract review Freepik
As part of the 2023 Budget the Government announced the tax rate for trustees would increase from 33 per cent to 39 per cent from April 2024 [Image: Freepik.com]
The changes to the trustee tax rate have been mooted by the Government for some time An increase in the trustee tax rate announced in Budget 2023, Pam Newlove, Business consultant Pam Newlove says many GPs will incur a sizeable increase in their tax bill [Image: Supplied]