Australian politics live: Taylor rejects Frydenberg’s GST idea but welcomes possible political tilt; One Nation to preference Liberals in Victoria poll

Follow the day’s news liveGet our breaking news email, free app or daily news podcastLabor not watering down 30% tax on discretionary trusts, says assistant treasurer The assistant treasurer, Daniel Mulino, says Labor is not watering down proposed changes to put a minimum 30% tax on discretionary trusts.We’re not watering this down. This is a very substantial review. This is about fairness in our tax system. It’s about trying to better align the taxes that people pay when they earn income through trusts versus when they earn income from working, from providing their labour.These are changes that have been called