A recent Newspoll survey, commissioned by the Institute, reveals that 62 per cent of Australians believe that they cannot afford to buy everything they really need. Taking into consideration the fact that Australia is one of the richest countries in the world and that Australians today have income three times higher than in 1950, it is remarkable that such a high proportion feel that their incomes are inadequate.
Duty free stores in Australia have tax exempt status, on goods such as tobacco and alcohol, goods which the government places high taxes on to create a disincentive. The Australian government also loses over $100 million per annum through duty free stores, disproportionately to the wealthiest 20% who can afford to travel overseas. This piece recommends the abolition and restriction of duty free stores.
High-income earners over $50,000 for individuals and $100, 000 for families pay a Medicare Levy Surcharge of 1 %( $500 and $1000 respectively). High-income earners can be exempted from the surcharge if they have private insurance, insurance companies exploit this and provide policies with annual costs under the respective $500 and $1000. The insurance policies do not stop high-income earners from using public health care, only from paying the surcharge.
The world's scientists have warned that the nations of the world will need to shift to a low-carbon future in order to avoid dangerous changes to the global climate. Even the Federal Environment Minister admits that Australia will need to cut greenhouse gas emission by 60 per cent or more. This report is ground breaking and shows how such a target could be met.
This paper provides a brief commentary on the main economic issues associated with policies to reduce greenhouse gas emissions, including comments on the economic modeling studies that have been prominent in the debate. Economic analysis of proposals to reduce Australia’s greenhouse gas emissions in line with international efforts has focused mainly on the costs of higher prices of carbon-intensive fuels. The benefits of reducing emissions have for the most part been excluded from the economic studies. These benefits take three forms: the longer-term avoided costs of climate change as a result of international efforts; the ancillary benefits of reducing greenhouse gas emissions, especially health improvements due to reduced urban air pollution; and, the short, medium and long-term economic benefits from the development of new industries and technologies.
Throughout the Western world, the changing nature of families has led to a highly charged debate and when commentators talk of how families have changed they usually compare family structures now to those of the 1950s and 1960s. Families are changing, but for reasons far more complex than declining moral values and rising selfish individualism. For the most part parents are engaged in an intense and difficult project of re-inventing family life in a rapidly changing world.
The structure of the tax system can play an important role in either protecting or causing harm to the natural environment. This report examines existing taxes, charges and related incentives that encourage either environmental protection or degradation in each of the areas of transport, stationary energy, land, water, forests and waste. The study also considers international developments that may be of assistance to Australian policy makers.
Against the approximately $1.1 billion contribution koalas make to Australia's tourism industry, this article proposes leveraging enduring international interest in koalas with proposed conservation efforts and koala culls on Kangaroo Island to create a koala hunting industry that would contribute further to the inbound tourism sector.