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Changes in the Taxation of Superannuation - Macroeconomic and Welfare Effects

Author

Listed:
  • John Creedy
  • Ross Guest

Abstract

This paper provides an applied general equilibrium analysis of several alternative taxation regimes applying to superannuation. It is motivated by the decision, announced by the Australian Government in its 2006 Budget, to exempt from tax all superannuation benefits received by recipients over 60 years of age. The analysis focuses on the implications of this and other superannuation tax regimes for intergenerational equity, national living standards, labour supply, saving and social welfare. The method of analysis is simulation of an open economy overlapping generations CGE model, calibrated to Australia.Acknowledgements - The authors wish to thank the Australian Research Council for financial support for this work; and the Productivity Commission for providing data on age-specific government spending.

Suggested Citation

  • John Creedy & Ross Guest, 2007. "Changes in the Taxation of Superannuation - Macroeconomic and Welfare Effects," Department of Economics - Working Papers Series 986, The University of Melbourne.
  • Handle: RePEc:mlb:wpaper:986
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    File URL: http://fbe.unimelb.edu.au/__data/assets/pdf_file/0010/802774/986.pdf
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    References listed on IDEAS

    as
    1. Productivity Commission, 2005. "Economic Implications of an Ageing Australia," Labor and Demography 0506001, EconWPA.
    2. Whitehouse, Edward, 1999. "The tax treatment of funded pensions," MPRA Paper 14173, University Library of Munich, Germany.
    Full references (including those not matched with items on IDEAS)

    More about this item

    JEL classification:

    • H31 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Household
    • H32 - Public Economics - - Fiscal Policies and Behavior of Economic Agents - - - Firm
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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