- Economics - Research Publications
Economics - Research Publications
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ItemChanges in the taxation of superannuation: macroeconomic and welfare effectsCreedy, J. ; Guest, R. ( 2007-02)This paper provides an applied general equilibrium analysis of several alternative taxationregimes applying to superannuation. It is motivated by the decision, announced by theAustralian Government in its 2006 Budget, to exempt from tax all superannuation benefitsreceived by recipients over 60 years of age. The analysis focuses on the implications of thisand other superannuation tax regimes for intergenerational equity, national living standards,labour supply, saving and social welfare. The method of analysis is simulation of an openeconomy overlapping generations CGE model, calibrated to Australia.
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ItemAn in-work payment with an hours threshold: labour supply and social welfareCreedy, J. ( 2005-03)This paper uses an optimal tax framework to examine the effecton a measure of social welfare of an in-work payment, involving a discontinuityat an hours threshold. Social welfare is defined in termsof individuals’ utilities, which depend on leisure and net income. Thein-work payment augments a modified minimum income guaranteehaving two tax rates. Numerical simulations, which ensure that afixed amount of net revenue per person is collected by the government,show that social welfare falls systematically as the extent ofthe discontinuity increases, and as the hours threshold, at which thejump in net income occurs, increases. Eliminating the discontinuityresulting from the in-work payment therefore improves social welfare.