Anthony Albanese and Jim Chalmers spent the week telling Australians they would never bring in a death tax.

Then Labor handed down a Budget that says something very different.

Buried in the fine print is a surprise hit on family trusts, including Testamentary Discretionary Trusts. They are one of the most common estate planning tools used by Australians who want to pass on what they have worked their whole lives to build.

From July 2028, income generated by assets in these trusts will be taxed at a minimum rate of 30 per cent. The wealth sector was blindsided, financial advisers thought testamentary trusts would be carved out but Labor left them in.

Speaking to The Australian, Estate planning expert Rachel Rofe called it exactly what it is: “a death duty by any other name.”

Labor can play word games all it likes. Australians know a tax grab when they see one.

They promised no changes to negative gearing. Broken.

They promised no changes to capital gains tax. Broken.

They promised no death tax. Broken.

They’ve delivered a budget where there is no pause on mass immigration. No move to dump Net Zero. No serious relief for families being smashed by power bills, mortgages, rent, and groceries.

But Labor somehow found the time to work out how to tax Australians on the way out.

They tax your power bill. They tax your fuel tank. They tax your pay packet. Now they want a slice of what you leave behind for your kids.

The home you paid off, the savings you scraped together, the legacy you wanted to protect.

Jim Chalmers and Labor think your family’s inheritance is their new revenue stream.

This is a Labor-made death tax.

It must be killed off.