New modelling by NATSEM, commissioned by The Australia Institute, shows many of Australia's wealthiest people pay negative tax, and it’s costing the budget bottom line $4.6 billion. Report available here.
A ‘Buffett Rule’ in Australia would limit the incentive for very high income earners to use excessive tax deductions and boost government revenue by $2.5 billion per year.
A new research paper from The Australia Institute reveals that home ownership rates in Australia are falling across all age groups, most significantly for people in their 50’s. Middle income earners are experiencing the sharpest decline in ownership rates.
A tax on financial transactions, known as a “Tobin” tax, could protect superannuation investors, improve the operation of Australia’s capital markets.
Australia has the fastest population growth of major developed countries, and projections show a reduced infrastructure spend per capita, putting huge pressure on major cities.
“Since the 2000 Olympics the population of Australia has grown by 25 per cent. In fact, since the Sydney Olympics, Australia’s population has grown more than the entire population of Sydney at that time,” Australia Institute Executive Director, Richard Denniss said.