von Benney-Morris Benney-Morris Vor 8 Jahren
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• Taxation policy – philosophical considerations
• Good tax design and tax policy
• Players in Australia’s income tax system
• Constitutional power of the Commonwealth
• Commonwealth and State tax sharing arrangement
• Sources of taxation law and relevant legislation
Democratic governments needs to raise revenue to govern effectively. Tax
Social Goods characterised by joint consumption and non exclusivity. eg. Street lighting, Public parks and amenitiesMerit Goods are deemed to be beneficial to there user. A merit good can be defined as a good that would be under consumed in a free market economy.This is due to two reasons.Merit goods produce positive externalities (third party spill over/benefit). eg. Inoculations,
Often third party benefit greater than private benefit.Ignorance of the long term benefit of the good.
Proportional Tax is a flat rate across all income earners regardless of income. Superannuation tax and company tax.
Reduces proportional to the income of the tax payer. An example of Regressive tax is that of GST. Greater burden on low income earner than high income.
Increases as the income of the tax payer increases. -Income tax
Levied on the person as a result of receiving accessible income from personal services, property or business.
-Income Tax-Company Tax-Land Tax
Average Tax
Average tax rate paid on overall income
Marginal Tax
Tax rate paid according to Incremental brackets
Levied on the transactions not people. The personal collecting the tax is generally not the same person that bore the tax
GST - Stamp duty-
