Discretionary trusts are the foundation of “tradies, retailers, hospitality businesses, professional firms, family businesses”, says Shadow Small Business Minister Jacinta Nampijinpa Price. Discretionary trust tax reforms could leave small businesses with higher tax bills or costly restructuring fees, says Shadow Small Business Minister Jacinta Nampijinpa Price, as the Coalition readies for the next wave of federal budget reforms to roll into Parliament. But the reforms are expected to rattle thousands of small and family businesses operating through discretionary trust structures. Speaking at the Council of Small Business Organisations Australia’s (COSBOA) National Small Business Summit in Sydney, Senator Price on Tuesday reiterated the Coalition’s plan to oppose Labor’s trust overhaul. Discretionary trusts are not “exotic structures”, she said, but the foundation of “tradies, retailers, hospitality businesses, professional firms, family businesses”.