Australia’s age-based tax and welfare system: is it fair?
Australia’s tax and welfare system is one of the most tightly targeted in the world. In general, welfare payments and tax concessions go to those who need them most. However, there are substantial welfare payments and tax concessions available to older people. Is age-based welfare justified? Are Australia’s tax and transfer systems, including the Age Pension and other age-based concessions as well as superannuation tax concessions, targeted to those who need assistance? And are current arrangements sustainable given the long-term budget pressures on Australian governments? How do we fund the needs of an older population equitably? Cassandra Goldie, CEO of the Australian Council of Social Services discussed the issues with Grattan Institute CEO, John Daley.