Tax planning in Australia’s income tax system

Sainsbury, Tristram; Breunig, Robert

doi:10.22459/ag.27.01.2020.03

Cited by 4 publications

(2 citation statements)

References 8 publications

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“…The disconnect between taxable income and wealth is growing: anyone earning more than $22,000 in 2022-23 (taking the Low Income Offset into account) is liable for income tax, while it is possible for Australians holding wealth valued in the tens of millions to have zero taxable income. Sainsbury and Breunig (2020) point out this possibility and discuss the difficulty in determining the degree to which this occurs in the Australian system.…”

Section: Intergenerational Policy Issues Not Explored In the 2021 Igrmentioning

confidence: 99%

Retirement Incomes: Increasing Inequity, Not Costs, across Generations Is the Intergenerational Problem

Podger¹,

Breunig²,

Piggott³

2023

More Than Fiscal: The Intergenerational Report, Sustainability and Public Policy in Australia

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The 2021 Intergenerational Report (IGR), like its predecessors, tries to find reasons for concern about rising costs of retirement incomes as the population ages, but the evidence is striking about how well Australia has done to contain those costs even while greatly improving the incomes retirees will receive.• Indeed, Australia's affluence-tested flat-rate pension, combined with pre-funded income replacement, generates projected retirement transfer outlays that decline over time as a percentage of GDP. • There is little evidence that the IGRs have contributed much to improvements to retirement income policies: most of the improvements in both sustainability and effectiveness preceded the first IGR in 2002. • Successive IGRs have switched the 40-year projections from a substantial increase in pension costs as a percentage of GDP to a substantial reduction.1 The authors acknowledge the research assistance provided by Sophie Yan.• The 2021 IGR suggests this will be offset by increasing superannuation tax expenditures, an assessment the authors consider to be highly deceptive. • By focusing only on fiscal costs, the report fails to explore broader intergenerational policy issues including the likelihood of the deep inequality that exists within generations growing over time. • To avoid this outcome, further reforms to the retirement income system are needed particularly to ensure superannuation savings are directed efficiently and effectively to deliver secure retirement incomes and to provide more adequate support to those with limited superannuation who do not own their own homes. Other possible measures include reviewing aged-care funding, exploring inheritance taxes and exploring land taxes.

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Section: Intergenerational Policy Issues Not Explored In the 2021 Igrmentioning

confidence: 99%

Retirement Incomes: Increasing Inequity, Not Costs, across Generations Is the Intergenerational Problem

Podger¹,

Breunig²,

Piggott³

2023

More Than Fiscal: The Intergenerational Report, Sustainability and Public Policy in Australia

Self Cite

View full text Add to dashboard Cite

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“…Singapore has relatively low taxes to support business growth and investment, successfully building significant reserves of funds and allocating them to strategic projects in infrastructure development. Lee, K. F. DOI 10.18502/kss.v9i7.15469 IAPA ( [9] Australia has a diverse and flexible tax system by successfully utilizing revenues from natural resources such as mining and natural gas to support the national economy Sainsbury, T., &; Breunig, R. [10] The characteristics of Australia which has large and diverse natural resource reserves should be utilized by the Government of Indonesia by encouraging local governments to maximize the potential of their natural resources to maximize regional revenues. This research focuses on fiscal policies that support development at the local level.…”

Section: Introductionmentioning

confidence: 99%

Smart Strategies for Managing Regional Assets: Best Practices in Increase Local Revenue

Aneta,

Lakoro,

Aneta

et al. 2024

KSS

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This study aims to analyze the optimization of asset management consisting of the process of planning, implementing, and supervising regional property. The research method uses a qualitative approach with a phenomenological orientation. The data obtained from the study were analyzed using interactive models. The results showed weaknesses in the stages of planning, implementation, and supervision of assets. Therefore, the strategy to increase regional original revenue (PAD) through the optimization of regional property (BMD), the Gorontalo Provincial Government can take a series of innovation-oriented actions including: 1) A comprehensive asset audit of all assets owned including land, buildings, facilities, and inventory. This audit should include an assessment of the value, condition, and potential reuse. 2) Development of an asset management plan. 3) Involving private parties and communities to identify opportunities for cooperation in asset management. 4) Utilization of software technology to help monitor inventory, maintenance, and sustainability of assets. 5) Data-driven asset management by identifying new trends, market needs, and revenue potential to aid smarter decision-making processes related to asset utilization. 6) Promotion and marketing of assets that can be carried out by regional apparatus organizations (OPD) if they have facilities that can be leased or used commercially to help increase revenue. 7) Improved policies and regulations including procedures for leasing, maintaining, and reusing assets, as clear and flexible policies can support innovation and better asset utilization. The weakness in this study is mainly localisation, which is related to areas that predominantly prioritize local cultural values as the main foundation in their interaction with the surrounding environment. This is due to limitations in consideration of cultural variations that may exist outside the scope of those regions in this study. Therefore, the results of this study require careful consideration when applied in areas that have different cultural diversity or backgrounds. Keywords: goverment entities, asymmetric behavior, stabilization

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Individuals’ responsiveness to marginal tax rates: Evidence from bunching in the Australian personal income tax

Johnson,

Breunig,

Olivo-Villabrille

et al. 2024

Labour Economics

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Tax planning in Australia’s income tax system

Cited by 4 publications

References 8 publications

Retirement Incomes: Increasing Inequity, Not Costs, across Generations Is the Intergenerational Problem

Retirement Incomes: Increasing Inequity, Not Costs, across Generations Is the Intergenerational Problem

Smart Strategies for Managing Regional Assets: Best Practices in Increase Local Revenue

Individuals’ responsiveness to marginal tax rates: Evidence from bunching in the Australian personal income tax

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