Goldsborough Financial Services

22/06/2026

Trusts in focus – What the 2026 budget means for family structures
- By Craig Kirkwood

The recent Federal Budget has brought discretionary (family) trusts firmly back into the spotlight, with proposed changes that could reshape how these structures are used over the coming years.

At the centre of the announcement is a proposal to introduce a minimum 30% tax on discretionary trust income, expected to apply from 1 July 2028. While not yet legislated, the measure signals a clear shift in policy direction.

Traditionally, discretionary trusts have offered flexibility, particularly the ability to distribute income across family members on lower marginal tax rates. This has made them a popular vehicle for investment, asset protection, and succession planning.

However, under the proposed changes, this flexibility may become less effective from a tax perspective. The new rules would effectively establish a tax floor, meaning that even where income is distributed to lower-income beneficiaries, the overall tax outcome may not fall below 30%. Previously the distributions would be taxed at the recipients marginal tax rate and benefiting from tax-free thresholds.

Importantly, the Government has been clear that trusts will continue to play a role in areas such as asset protection and intergenerational wealth planning. The intent appears less about eliminating trusts altogether, and more about reducing the tax advantages associated with income splitting.

In addition, a three-year restructuring window from 1 July 2027 has been proposed, allowing individuals and families time to review and, where appropriate, adjust their structures. This suggests an expectation that many existing arrangements may need to reviewed and potentially restructure depending on the goals of why the trust was initially established.

It’s also worth noting that these changes come alongside heightened ATO scrutiny of trust distributions in recent years, particularly around whether beneficiaries genuinely receive and benefit from trust income.

While the detail is still developing, the broader message is clear: the tax landscape for trusts is shifting, and long-standing strategies may not deliver the same outcomes in the future.

For many families, discretionary trusts will remain appropriate. For others, it may be an opportune time to revisit how structures are configured and whether they continue to align with long-term objectives.

As always, changes of this nature are best considered in the context of your broader financial position. A proactive review, even at a high level can help ensure your arrangements remain fit for purpose as the rules evolve.

The recent Federal Budget has brought discretionary (family) trusts firmly back into the spotlight, with proposed changes that could reshape how these structures are used over the coming years.At the centre of the announcement is a proposal to introduce a minimum 30% tax on discretionary trust incom...

02/06/2026

A little bit of excitement out the front of the Goldsborough offices yesterday!

11/05/2026

Financial strategies at 55, 60 and 65 — why timing changes everything!

By Momir Vuksa

“I wish I’d known all this earlier.” It’s a phrase I regularly hear after presenting a financial plan to new clients. It’s rarely ‘too late’ but proactive planning for the future is often the biggest advantage you can harness.

At 45 retirement still seems far off, by 55 it feels very real. Many reach their mid-50s with a super target in mind but little clarity on how they want to live, full-time work, part-time, consulting, travel or supporting family.

Financial strategy isn’t just about what you do, it’s also about when you do it. The same conversation at 55, 60 or 65 can lead to very different outcomes even with similar income, super balances and lifestyles.

It’s not about choosing the perfect investment or timing the market. More often it’s about conversations that happen too late. How much is enough, what retirement should look like, balancing lifestyle with security and how super, tax and work choices interact over time.

Contribution and tax strategy: shaping the balance vs managing the result

At 55
Superannuation strategy is still about building positioning. There’s time to deliberately shape outcomes through concessional strategies, catch up contributions, spouse strategies and timing around work transitions. Mistakes can be corrected and most importantly, good decisions compound.

At 60
Strategy becomes more selective. Contribution opportunities still exist but they are often constrained by shorter timeframes, employment changes or preservation considerations. Strategy is about maximising what’s left rather than redesigning the whole picture.

At 65
The strategy conversation becomes mostly retrospective. Super balances are largely set. The focus shifts to minimising tax, managing withdrawals and ensuring sustainability rather than materially changing the trajectory.

• At 55, strategy actively builds future flexibility.
• At 65, strategy focuses on protecting what already exists.

Sequencing goals: designing the order vs absorbing the overlap

At 55
There is still room to sequence competing goals properly. Private education costs, renovations, investing outside super and work transitions. With projections, goals can be staged so they support rather than undermine each other.

At 60
Goals start to overlap whether planned or not. Cash flow decisions tend to collide with retirement timing and trade offs become unavoidable. Strategy shifts from optimisation to prioritisation.

At 65
Sequencing becomes fixed, if major goals weren’t planned earlier, they either don’t happen or come at the expense of lifestyle or financial certainty. Strategic conversations focus on “Can we?” rather than “How should we?”

• At 55, sequencing creates efficiency.
• At 65, sequencing mostly determines limitation.

Investment strategy: positioning for growth vs managing volatility

At 55
Investment strategy can still meaningfully evolve. Time allows for market cycles to play out, growth assets to recover from volatility and portfolio’s structure to support long term objectives. Risk can be taken intentionally, not emotionally.

At 60
Investment strategy becomes more sensitive to timing and sequencing risk. Portfolios often need adjustment to reduce reliance on short term market behaviour and asset allocation decisions matter more because the recovery time is shorter.

At 65
Investment strategy is primarily about durability. The focus is on income sustainability, capital preservation and controlling sequencing risk, portfolio positioning becomes something to manage rather than fix.

• At 55, investment strategy drives outcome.
• At 65, investment strategy supports stability.

Same strategies. Different leverage.

What surprises many people is that the strategies themselves can be similar at 55, 60 and 65 because the principles are largely the same. What changes is the impact of those decisions. Earlier strategy shapes results while those same strategies later help to limit regret. That’s not a failure of planning it’s simply how time works.

If this raised a quiet “we should probably look at this” moment, that’s usually a sign worth paying attention to. The earlier these conversations happen, the more flexibility they tend to create. If you’d like to understand what your choices look like at your current stage and which decisions matter the most — I’m happy to help.

“I wish I’d known all this earlier.” It’s a phrase I regularly hear after presenting a financial plan to new clients. It’s rarely ‘too late’ but proactive planning for the future is often the biggest advantage you can harness.

01/05/2026

It's official.. Goldsborough Financial Services is doing the 50km Coastrek this year!!! ⭐⭐⭐⭐

The training starts now - 18-week countdown begins 🚶‍➡️🚶‍♀️‍➡️🚶‍♂️‍➡️🚶‍➡️

Team Go 4 Gold includes 3 of our brave Advisers - Will Chapman, Sam Martin, Craig Kirkwood + our Practice Manager Rebekah Young.

Supporting Beyond Blue

Thank you to Wild Women On Top for creating this amazing event.

We are hiking for mental health with Coastrek Fleurieu Peninsula 2026 - 50KM and raising funds for Beyond Blue. Please support us and help ensure support is there when needed for those we love and for everyone in Australia.

22/04/2026

CONGRATULATIONS to our wonderful adviser Craig Kirkwood on his recent engagement to his lovely fiancée, Georgie!!

💍🎉🍾

Wishing you both much love and happiness together 💖💖

(And so of course the Goldsborough Team had a little morning tea to celebrate the good news. Thanks to Pat-a-cake Bakery Cafe for the amazing cake.)

20/04/2026

The latest edition of the Goldsborough News - April 2026 is now available!

In this issue:

➡️ New Super Contribution Caps for 2026-27

➡️ Mixing Time “Off” with Time “On”

➡️ What would you tell your kids?

➡️ Age Pension Changes from March 2026: What Retirees Need to Know

➡️ Geo-Political Tensions

➡️ The 5 Big Forces Likely to Shape the Next Decade

➡️ Good News, New Risks: Australia’s Recovery Meets a Shifting World

➡️ Aged Care, Age Pension and the Family Home

➡️ Making Bonus Saver Accounts Work Smarter

Download your copy here:https://goldsborough.com.au/wp-content/uploads/2026/04/Goldsborough-News-April-2026.pdf