Report analysing Australian tax treatments.
The paper concludes with a number of suggestions for reform, principally:
· eliminating the 50 per cent discount
· incorporating all pre-1986 assets
· deemed realisation of assets on death
· including owner-occupied housing above a certain value.
This article shows that the public debt interest savings associated with privatisation are, on average, less than the profits foregone, implying that privatisation reduces public sector net worth.
A copy is available on John Quiggin's website.