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A Snapshot of the Australian Taxpayer
Author(s) -
Bond David,
Wright Anna
Publication year - 2018
Publication title -
australian accounting review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.551
H-Index - 36
eISSN - 1835-2561
pISSN - 1035-6908
DOI - 10.1111/auar.12219
Subject(s) - taxpayer , taxable income , tax deduction , revenue , accounting , business , income tax , government (linguistics) , state income tax , public economics , affect (linguistics) , economics , actuarial science , gross income , tax reform , psychology , macroeconomics , linguistics , philosophy , communication
Using the most recent Australian Taxation Office published data, along with other sources of data, we provide detailed descriptive evidence on the income, deductions and other items (including superannuation) of the individual taxpayer in Australia. We provide these details across tax bracket, occupation, gender and location. In addition, we explore who is accessing negative gearing and by how much, thus contributing to the ongoing debate that surrounds this area of tax law. We show that individuals with a higher taxable income are more likely to access negative gearing, and we provide estimates of how the removal of this deduction would affect federal tax revenue. We discuss other reported areas such as deductions for gifts and donations, as well as providing a discussion on the use and potential use of the government‐provided pre‐filled tax information for individuals. Overall, this study is of interest to academics, government and tax practitioners alike.