Discretionary trust changes - impacts on farms

Question

1. How many farm businesses does Treasury estimate may need to restructure because of the discretionary trust changes? 2. How many farm businesses are expected to fall outside the primary production income exception because of mixed or diversified income? 3. What work did Treasury do before the Budget on how this measure would affect family farm succession and the common forms of farm trust structures? 4. How many farm businesses does Treasury expect may choose to, or need to, restructure because of the discretionary trust changes? 5. Has Treasury assessed how the measure will apply to farms that have both primary production income and other income - for example leasing land, carbon projects, renewable energy, wineries, farm stays or other land access arrangements? 6. Has Treasury assessed whether succession problems still arise for family farms even where primary production income is exempt - for example where control of the trust changes, the structure needs to be reorganised, or the farm has mixed income? 7. Did Treasury test those common family farm situations before announcement - especially succession cases and mixed-income farms? If so, can Treasury share it?