This paper argues that given the current hybrid income-expenditure tax system in Australia (hybrid IT/ET) a wealth tax could make sense as a way of ironing out disparities in the tax treatment of different assets.

There are three main approaches to taxing capital income, being the income tax, the expenditure tax – which effectively exempts most capital income - or hybrids such as the rate of return allowance (RRA). This paper considers the theoretical arguments for taxing capital income less than fully, and finds that they need to be qualified...

This paper examines the $30 billion in Commonwealth tax expenditures which provide tax benefits through deductions, rebates, reduced rates and deferred liabilities. While essentially the same as outlays, tax expenditures are not subject to the same scrutiny but provide the cosmetic effect of a slimmer public sector with lower outlays and taxation receipts.