Stock Market Today: Live Updates 16.07.2026
LIVEMarkets rolling coverageStarted: July 16, 2026, 4:00 AM EDTUpdated: July 17, 2026, 1:57 AM EDT Testamentary trusts stay exempt as Australia confirms family trust tax plan July 17, 2026, 1:42 AM EDT. Australia’s 30% minimum tax on discretionary trusts will not apply to testamentary trusts, which are a legacy feature created to block tax avoidance for wealthy families. Testamentary trusts come into effect after someone’s death, letting assets be shielded and income split among beneficiaries for tax benefits. Back in 1980, the government decided not to apply minor tax rules meant for family trusts to testamentary trusts. Minors can still