The Affordable Care Act's "Cadillac tax" on high-cost group health care plans begins in 2018, yet its expected impact on employers remains an open question. Clarifying regulations, guidance and potential statutory changes between now and then will determine whether employers find the tax to be even more of an administrative burden than a financial one. This article discusses the top five open i...

The first study for this dissertation develops a tax-adjusted cost-of-carry model for Australian stock index futures and estimates the value of the debt tax shield, cash dividends and imputation tax credits flowing from the basket stocks in the index. As discussed in the previous chapter, the study relaxes the assumption made in previous research that interest and dividends receive the same tax...

This paper develops and applies a new estimation technique for distinguishing transitory and permanent price and income elasticities of charitable giving using panel data. Twelve-year individual averages of income and deductions are combined with information on legislated changes in tax schedules, to construct instruments for permanent price and income variation. Unlike the previous literature,...

This paper provides an overview of how taxation affects household portfolio structure. It begins by outlining six aspects of portfolio behavior that may be influenced by the tax system. These are asset selection, asset allocation, borrowing, asset location in taxable and tax-deferred accounts, asset turnover, and whether to hold assets directly or through financial intermediaries. The analysis ...

considering the importance of government fiscal policy (government spending and state tax income) in economy and its effectiveness in well-being of people, this paper examines the effects of fiscal policy on poverty during the period 1386-1363 in iran. in this paper, considering the fact that poverty changes can be divided to changes in economic growth and changes in income distribution; initia...

A dividend imputation tax system provides shareholders with a tax credit that can be used to offset personal tax on dividend income. The size of this credit depends on tax paid at the corporate level so that the “double taxation” of dividends is effectively eliminated. This paper shows how to infer the value of imputation tax credits (which is an important input into the weighted-average cost o...

IN 1985, individuals filing U.S. tax returns reported $166.4 billion of long-term capital gains in excess of short-term capital losses.' The following year Congress enacted a significant increase in capital gains taxes effective in 1987, and capital gains realizations for 1986 nearly doubled, to $324.8 billion.2 That investors' expectations of tax changes would alter their realization practices...

We draw on household-level data from the 2004 Survey of Consumer Finances to analyze how changes in the income tax deduction for mortgage interest would affect the distribution of income tax liabilities and the consumption of housing services. Our primary innovation is to focus on the responses of household portfolios and the homeowner loan-to-value ratio to such tax changes. We estimate that r...

This paper attempts to bring theoretical and empirical research on capital gains realization behavior closer together by considering whether investors who appear to engage more in strategic tax avoidance activity also respond differently to tax rates. We find that such investors exhibit significantly smaller responses to permanent tax rate changes than other investors. Put another way, a larger...

The interplay of a differentiated indirect tax structure and the variation in expenditure patterns across households, leads to a possibly unequal distribution of indirect tax liabilities across the population. This paper uses the ninth round of the RLMS survey to assess the distributional consequences of the two major components of the indirect tax system: VAT and excise taxes. The global indir...