Prior to April this year (2024) retained income in Family Trusts was taxed at 33%. After April retained income over $10,000 will now be taxed at 39%.
NOTE: Income that is paid out to beneficiaries before the end of each tax year will still be taxed at the beneficiaries marginal tax rate which could be as low as 17.5%.
For investments held under a Family Trust you can get around paying the higher tax rate of 39%. If investments are made through PIE Funds the maximum tax rate is 28%.