'Back-Loaded' Tax Subsidies for Saving, Asset Location and Crowd-Out: Evidence from Tax-Free Savings Accounts

Asset location in tax-deferred and conventional savings accounts

This paper derives optimal asset allocations (which assets to hold) and asset locations (in which accounts to hold them) for a risk-averse investor saving for retirement. The investor can hold taxable corporate bonds, tax-exempt municipal bonds, and stocks either in a tax-deferred or a conventional taxable savings account. Taxable bonds have a preferred location in the taxdeferred account and t...

Tax - Preferred Savings Accounts and Marginal Tax Rates : Evidence on RRSP participation

The percentage of Canadians with earned income who contributed to a Registered Retirement Savings Plan increased from 18.7 per cent in 1982 to 46.0 per cent in 1996. This period also saw many changes to the income tax structure. Using household expenditure survey data, I examine the influence of taxes on the decision to contribute to Registered Retirement Savings Plans. I improve on existing wo...

Tax credits for health insurance and medical savings accounts.

Tax Subsidies to Owner - Occupied Housing : An Asset - Market Approach

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Taxation and Household Asset Location and Allocation: Evidence from the Bush Tax Acts

By exploiting the structural tax rate changes created by the Bush-era tax acts in 2001 and 2003, this study offers a first direct investigation of how the differential taxation of financial assets affects households’ asset location and allocation into taxable and tax-deferred accounts in a natural experimental framework. Because bonds are heavily taxed assets, relative to stocks, and tax treatm...