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Articles on Income tax

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“The problem is we have an over-reliance on personal income tax to support our revenue base. Our largest source of tax revenue is personal income tax.” AAP/Lukas Coch

Is Hockey right when he says we are over-reliant on personal income tax?

Treasurer Joe Hockey is right when he says Australia’s taxation level is the second highest among OECD countries. But when it is compared to GDP, it’s a different story.
Federal Treasurer Joe Hockey said half of all income tax in Australia comes from just 10% of workers. AAP Image/Carol Cho

FactCheck: is 50% of income tax paid by 10% of workers?

Federal Treasurer Joe Hockey told the ABC this week that 50% of all income tax in Australia is paid by 10% of the working population. Is that statement supported by the data?
Shadow Assistant Treasurer Andrew Leigh has said the GST is as inefficient but less equitable than income tax. AAP Image/Mick Tsikas

FactCheck: is the GST as efficient but less equitable than income tax?

The Shadow Assistant Treasurer, Andrew Leigh, has said the the Government’s latest tax discussion paper says the GST is as inefficient as income tax, adding he thinks it’s less equitable. Is that right?
Paper filing may soon be a thing of the past. But increased automation means humans will be more important than ever. Crumpled 1040 via www.shutterstock.com

Overlooked costs of IRS budget cuts will hit taxpayers hardest

Congress has shortchanged the IRS by $7.3 billion over the past five years, and taxpayers will increasingly pay the price.
There have been instances of successful federalism - how do we return to these? Flickr/monkeyc.net

How we can reinvigorate the Australian Federation

When our two major levels of government work in partnership, our Federation can function well. The standout period for cooperative federalism was the Hawke/Keating term of government, producing the National…
You’d need a lot of these to make a dent in our deficit. Images_of_Money

Raising top tax rate to 50p won’t raise much revenue

Ed Balls, the shadow chancellor, has announced that if elected a Labour government would return the rate of income tax payable on incomes above £150,000 to 50%. What would the effect of this be? The contention…

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