Labor ministers just refused - repeatedly - to rule out Australians paying 60% tax under their new trusts rules. On Insiders this morning, Assistant Treasurer Daniel Mulino was asked three times whether a small construction business could face up to 60% tax because of the 30% minimum tax on discretionary trusts. His answers: “Lengthy transition periods to allow different structures to adjust” “There’s a range of carve-outs which are really important” “I don’t want to get into particular tax arrangements, what we’re setting is a very reasonable minimum tax” Pressed on whether anyone could pay more than the current 49% top marginal rate, he still wouldn’t give a clear no. Instead he pointed to “a very detailed consultation process” and an “extra restructuring pathway” An hour earlier, Industry Minister Tim Ayres dismissed claims of 60 to 70% rates as “not anywhere near right” and “very complicated claims” When asked if that was fact or just his opinion, he couldn’t say. He then admitted the changes are “contested” and “difficult” before declaring them “the right thing to do for the tax system” Labor won’t guarantee small business owners and family trusts won’t be hit with punitive rates, and their ministers spent the morning dodging the question. I think we all know what that means.