THE Family Business Association (FBA) has welcomed the Senate inquiry into the proposed minimum tax on discretionary trusts and is calling on the Senate Economics Legislation Committee to publish the economic modelling and regulatory impact statement, and to consult family businesses of all sizes.

The Treasury Laws Amendment (Tax Reform No. 3) Bill 2026 and its companion rates bill were referred to the committee on October 15. Submissions close on October 29 with hearings on November 5 and 6.

FBA CEO Catherine Sayer said the inquiry will be the first public test of the proposed system. FBA has sought the modelling since May, but two rounds of Treasury consultation have passed without it and the Senate is now being asked to vote on a $4.5 billion tax on figures nobody outside Treasury has seen. Ms Sayer said.

The FBA’s position is that two weeks is too short to examine a measure of this size, given its long-term effects on the economy and community.

The FBA's position is that the Senate Economics Legislation Committee must publish the economic modelling and regulatory impact, and consult the families of all sizes that the tax will hit.

"Since May we have asked the government to show us the modelling," Ms Sayer said. "Two rounds of Treasury consultation have come and gone without it, and the Senate is now being asked to vote on a $4.5 billion tax on figures nobody outside Treasury has seen," Ms Sayer said.

"Two weeks is a short time to examine a measure of this size. It is a critically important issue that should not be rushed. It is going to have long-term impacts on the economy and community and needs to be carefully considered "

Ms Sayer said the committee's first question was what the sector looks like once the current generation of owners has handed over.

"This is not a tax on this year's profit," she said. "It decides whether the next generation takes the business on or sells it. That question has not been asked, let alone modelled.  We do not want to look back in 10 years’ time and wonder what has happened to all the family businesses in Australia."

Ms Sayer said the bill also did not work for a family that runs a business through a trust today.

"The 30% is a floor, not a rate," she said. "The election locks a family's distribution split for life and cannot be used to keep profit in the business for a new truck or a new press brake. No trust formed after July 1, 2028, can elect at all. And the restructure path relies on stamp duty relief that is still unclear that the states will give.

"Stacked on the increasing cost of doing business, productivity challenges, increasing compliance costs, the recent card surcharge ban and the stamp duty question along with the enormous cost to restructure, small and family businesses face death by a thousand cuts. These businesses employ half the Australian workforce."

FBA will lodge its submission by October 29 and will seek to appear before the committee.

Family Business Association is the peak body for family businesses in Australia. Around 70% of Australian businesses are family businesses and they employ around half the workforce.

www.familybusiness.org.au

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THE Parliamentary Joint Committee on Intelligence and Security (PJCIS) will hold its first public hearing for its inquiry into the nature and drivers of radicalisation in Australia on Wednesday, October 21.

The eSafety Commissioner, the Australian Security Intelligence Organisation (ASIO), the Australian Federal Police (AFP) and the Department of Home Affairs will speak at the hearing and provide the PJCIS with an overview of the contemporary radicalisation environment and the Government’s response.

The inquiry is examining the nature and drivers of radicalisation as they relate to politically motivated violence, terrorism and violent extremism in Australia. It will consider pathways to radicalisation, the role of technology and encrypted communications, the use of algorithms in amplifying extremist content, and the radicalisation and grooming of minors, including through gaming and gaming-adjacent platforms.

The committee will also examine the obligations of digital platforms, gaming and messaging providers in detecting, reporting and responding to extremist content.

Committee Chair, Senator Raff Ciccone, said the hearing provides an important opportunity to better understand the evolving nature of radicalisation and its implications for Australia's security.

“Radicalisation is a complex and evolving challenge, particularly as online environments and new technologies increasingly shape how people communicate, access information and form communities," Senator Ciccone said.

“This first hearing will provide the committee with a solid base of evidence, including the current threat environment, the role of online platforms and technologies, and the measures in place to prevent and respond to radicalisation.

“I want to extend an invitation to people who have been personally affected by radicalisation," he said. "We recognise that these experiences can be deeply difficult and that coming forward may not be easy. If you feel able to share your experience, please consider contacting the secretariat, who can facilitate you giving evidence in a manner that protects your identity.

“The committee looks forward to hearing a broad range of perspectives as the inquiry progresses.”

Public hearing:

Wednesday, 21 October 2026
10am – 1pm AEDT
Committee Room 2S1, Parliament House, Canberra, and via videoconference

Program:

The hearing will be broadcast live at aph.gov.au/live.

The committee has invited submissions to the inquiry by close of business Friday, October 30. Submissions should be prepared solely for this inquiry and should not be published prior to being accepted by the committee.

Further information about the inquiry and how to make a submission is available on the committee’s website: aph.gov.au/pjcis

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THE Parliamentary Joint Committee on Defence will hold site visits and public hearings in Adelaide and Perth this week as part of its inquiry into the annual report of the Department of Defence 2024–25.

Chair of the Committee, Senator Deborah O’Neill said, "Uplifting Australia’s defence industry is crucial to building a more secure Australia. The committee is looking forward to speaking with state government and private sector representatives about the innovation, infrastructure and workforce capabilities needed to support the continued growth of Australia’s sovereign defence sector."

The committee will also visit defence bases in Adelaide and Perth, including Osborne Naval Shipyard and the Henderson Defence Precinct, which are critical to expanding Australia’s sovereign defence industry and the successful delivery of AUKUS.

Further information about the inquiry is available on its webpage.

Public hearing details

Date: Wednesday, 21 October 2026
Time: 9:45am – 1pm (ACDT)
Location: Kingston Room, Old Parliament House, North Terrace, Adelaide

Date: Friday, 23 October 2026
Time: 8:30am – 12pm (AWST)
Location: Commonwealth Parliamentary Offices, Exchange Tower, 2 The Esplanade, Perth

The hearings will be broadcast live at aph.gov.au/live.

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THE Joint Standing Committee on Foreign Affairs and Trade has today presented and published its report for the inquiry into strengthening and expanding Australia’s trade and investment relations with the countries of Africa.

Chair of the Trade Subcommittee, Fiona Phillips MP, said, "The report highlights the substantial opportunities for Australia to deepen and expand its long-standing relations and economic engagement with one of the world’s fastest-growing regions.

"Africa is a diverse continent of 54 countries, and home to a rapidly expanding population, particularly its youth population, accelerating urbanisation, and regional economic integration through the African Continental Free Trade Area (AfCFTA)."

Mrs Phillips said, "While Australia has maintained a substantial, well-respected presence with mining investment, total trade and investment flows remain modest compared with the scale and diversity of opportunities emerging across the African continent. Australia must adopt a more strategic and coordinated approach to support Australian businesses seeking to enter and expand their presence in African markets.

"Our report makes 17 recommendations to the Australian Government to address barriers to trade and investment with African nations and unlock emerging opportunities that align with Australia’s many strengths across the resources sector, education and vocational training, agribusiness, digital technologies, supply chain logistics, and healthcare."

The committee’s recommendations include:

• strengthening government-to-government engagement, including enhancing the capacity of Australia’s current diplomatic and trade footprint across the African continent;
• a whole-of-government Australia-Africa risk differentiated trade and investment strategy, focused on priority regions and commercial sectors;
• establishing an Australia-Africa Advisory Council to provide strategic advice to the Australian Government and industry;
• implementing a formal African diaspora engagement framework with structured mechanisms for consultation and collaboration across diaspora communities and government;
• an Africa market intelligence and risk mitigation initiative to address market information gaps and de-risk market entry for Australian businesses, particularly small and medium enterprises;
• coordinated Australian Government trade promotion campaigns highlighting Australian expertise that align with African emerging opportunities and supporting regular trade missions to and from the African continent;
• developing a targeted Australia-Africa tertiary and vocational training partnership program.

The report can be accessed and downloaded here.

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