One of the criticisms that can be levelled at any spending proposal is ‘how will you pay for it?’ So here’s a handy list of work that other people have done into where the money could come from.
- The Henry Tax Review has lots of information and ideas, so have a look at their final report to see if there are useful things you can use.
- ACOSS has produced many documents about the budget, but has recently started on some specific tax policy work. This first Tax Talk looks at how fair our current system is, including personal, investment, company, consumption and indirect taxes. If you want some concrete examples of where to get revenue from, see from page 13 on their Budget submission for this year.
- The Australia Institute has put out some comprehensive reports, such as this one on retirement incomes, housing and the Tobin Tax which is a tax on financial transactions.
- The Grattan Institute has a whole section on budget issues, with this paper looking at generational tax implications.
- Security4women has looked at what care work is worth the economy and how women are missing out.
- Here’s some information about an inheritance tax, and I had a bit more about it here. Or what about the private health insurance rebate?
If there is a particular area of policy that you are interested in, most national peak bodies will have made a submission to the budget this year and published it online. (And there are peak bodies for the most surprising things! Just search ‘topic’ and ‘pre-budget submission 2015’.)
[This is hardly a comprehensive list, so I will update it. Do put suggestions into the comments or on Twitter.]
Read part three.