Published on 01 Apr 12
by "AUSTRALIAN TAX FORUM" JOURNAL ARTICLE
This article discusses the recommendations of the Henry Review for the taxation of personal savings in Australia’s tax system. It examines the Review’s approach to defining the benchmark and policy criteria for taxing personal saving. It then focuses on the current tax treatment and the Review’s recommendations for the taxation of home ownership (the largest single component of Australian household wealth); investment income and capital gains in respect of rental property investment, shares; and interest on bank accounts.
Finally, it considers the Review’s suggestion that a bequests tax should be further examined for Australia.
Prof Miranda Stewart CTA
Miranda is a leading international expert on tax law and policy, and Director of the Tax and Transfer Policy Institute at Crawford School, Australian National University (ANU) in Canberra. Professor Stewart has more than 20 years experience working at the leading edge of policy research, design and development. She joined ANU from the University of Melbourne, where she was a Director of Tax Studies for many years. She has previously worked at New York University School of Law in the United States, in major Australian law firms advising business on tax law, and at the ATO advising on business tax law and policy, and has consulted for government on various tax and transfer policy issues. Current at 30 June 2015
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