Superannuation tax reform: Fiscal consequences

Davidson, S and Guest, R 2007, 'Superannuation tax reform: Fiscal consequences', Agenda: A Journal of Policy Analysis and Reform, vol. 14, no. 1, pp. 5-16.

Document type: Journal Article
Collection: Journal Articles

Title Superannuation tax reform: Fiscal consequences
Author(s) Davidson, S
Guest, R
Year 2007
Journal name Agenda: A Journal of Policy Analysis and Reform
Volume number 14
Issue number 1
Start page 5
End page 16
Total pages 11
Publisher Australian National University, School of Economics
Abstract In his 2006 Budget speech, Treasurer Peter Costello announced 'the most significant change to Australia's superannuation system in decades'. The reform objectives were to 'sweep away the current complexity faced by retirees, increase retirement incomes, give greater flexibility as to how and when superannuation can be drawn down, and improve incentives for older Australians to stay in the workforce' (Costello, 2006). These four objectives were motivated by the broader economic challenges of population ageing, insufficient savings the baby boomer generation, and a shortage of skilled workers. We focus on the announcement that, from 1 July 2007, income from a taxed superannuation fund would not be taxable for individuals aged over 60. What was not announced in the budget, nor subsequently announced, is the expected budget cost of these reforms, and it is this particular aspect of the reforms that we investigate here.
Subject Public Economics- Taxation and Revenue
ISSN 1322-1833
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Created: Mon, 20 Sep 2010, 12:51:49 EST by Catalyst Administrator
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