Replacing Corporate Income Tax with a Cash Flow Tax

dc.contributor.authorGarnaut, Ross
dc.contributor.authorEmerson, Craig
dc.contributor.authorFinighan, Reuben
dc.contributor.authorAnthony, Stephen
dc.date.accessioned2024-04-21T23:25:42Z
dc.date.issued2020
dc.date.updated2022-12-25T07:16:01Z
dc.description.abstractWe design a parsimonious cash flow tax for Australia and estimate revenue effects. It allows immediate deduction of all capital expenditures, denies deductions of interest payments, and compensates negative cash flows at the same rate and time as it taxes positive cash flows. It allows taxpayer timing choice on implementation over 10 years. It has incentive effects comparable to lowering the corporate income tax rate to zero. It removes distortions that artificially favour debt over equity, short- over long-term investments, rents over competitive returns, large, established over small and new businesses, and conventional over innovative investments. It closes international tax evasion loopholes. Its spur to investment and timing of revenue impacts favours implementation in recession.en_AU
dc.format.mimetypeapplication/pdfen_AU
dc.identifier.issn0004-9018en_AU
dc.identifier.urihttp://hdl.handle.net/1885/316924
dc.language.isoen_AUen_AU
dc.publisherBlackwell Publishing Ltden_AU
dc.rights© 2020 The authorsen_AU
dc.sourceThe Australian Economic Reviewen_AU
dc.titleReplacing Corporate Income Tax with a Cash Flow Taxen_AU
dc.typeJournal articleen_AU
local.bibliographicCitation.issue4en_AU
local.bibliographicCitation.lastpage481en_AU
local.bibliographicCitation.startpage463en_AU
local.contributor.affiliationGarnaut, Ross, University of Melbourneen_AU
local.contributor.affiliationEmerson, Craig, College of Asia and the Pacific, ANUen_AU
local.contributor.affiliationFinighan, Reuben, London School of Economicsen_AU
local.contributor.affiliationAnthony, Stephen, Industry Super Australiaen_AU
local.contributor.authoremailu1537897@anu.edu.auen_AU
local.contributor.authoruidEmerson, Craig, u1537897en_AU
local.description.embargo2099-12-31
local.description.notesImported from ARIESen_AU
local.identifier.absfor380115 - Public economics - taxation and revenueen_AU
local.identifier.ariespublicationa383154xPUB17167en_AU
local.identifier.citationvolume53en_AU
local.identifier.doi10.1111/1467-8462.12385en_AU
local.identifier.scopusID2-s2.0-85097932267
local.identifier.thomsonIDWOS:000600777900001
local.identifier.uidSubmittedBya383154en_AU
local.publisher.urlonlinelibrary.wileyen_AU
local.type.statusPublished Versionen_AU

Downloads

Original bundle

Now showing 1 - 1 of 1
No Thumbnail Available
Name:
Australian Economic Review - 2020 - Garnaut - Replacing Corporate Income Tax with a Cash Flow Tax.pdf
Size:
414.41 KB
Format:
Adobe Portable Document Format
Description:
Back to topicon-arrow-up-solid
 
APRU
IARU
 
edX
Group of Eight Member

Acknowledgement of Country

The Australian National University acknowledges, celebrates and pays our respects to the Ngunnawal and Ngambri people of the Canberra region and to all First Nations Australians on whose traditional lands we meet and work, and whose cultures are among the oldest continuing cultures in human history.


Contact ANUCopyrightDisclaimerPrivacyFreedom of Information

+61 2 6125 5111 The Australian National University, Canberra

TEQSA Provider ID: PRV12002 (Australian University) CRICOS Provider Code: 00120C ABN: 52 234 063 906