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Recent Changes in Personal Income Tax
Publication year - 1976
Publication title -
australian economic review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.308
H-Index - 29
eISSN - 1467-8462
pISSN - 0004-9018
DOI - 10.1111/j.1467-8462.1976.tb00977.x
Subject(s) - personal income tax , economics , personal income , legislation , inflation (cosmology) , legislature , closing (real estate) , income tax , state income tax , monetary economics , gross income , labour economics , tax reform , public economics , macroeconomics , finance , political science , law , physics , theoretical physics
The amendments to the Australian system of personal income tax effected in the 1975–76 budget and in the measures announced by the Treasurer on 20 May constitute the first major change in the system since 1950. The legislation of that year established a structure of tax rates and concessional deductions which remained substantially unaltered for 25 years. During that period, the shape and impact of the personal income tax was affected more by inflation than by legislative change, most of which was concerned either with closing loopholes or with monetary adjustments consequent on inflation.