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dc.contributor.authorRankin, Keith
dc.description.abstractA 'Universal Basic Income' in 2016 became a genuine policy option for a major political party (Labour) in New Zealand. It is thus a concept – like negative income tax – that requires more public understanding. In particular, something close to a Universal Basic Income can be created, in New Zealand, as a pure accounting exercise. The argument here is that the Universal Basic Income – described in 1991 as a "universal tax credit" coupled with a "moderately high flat tax" – need not be the radical change to the fiscal state that it is frequently painted as, by both proponents and opponents. The approach adopted has been called 'Basic Income Flat Tax', as distinct from the prevailing 'Conditional Income Graduated Tax' conceptualisation of the tax-transfer interface. The suggested reconceptualisation of income tax considers an additional share of GDP to be included as public revenue, by regarding existing income-tax graduations as 'public equity benefits'. This exercise in fiscal arithmetic shows that – by grouping Public Equity Benefits, Work and Income Benefits, Family Tax Credits and Student Allowances all as alternative forms of publicly-sourced private income – New Zealand and other similar countries already have something close to universal personal tax credits. A reformulation of the May 2017 Budget summary projections contrasts alternative approaches to determining gross public revenue. 'Public equity benefits' may be seen as a conceptual precursor to 'public equity dividends', which represent an affordable Universal Basic Income with constructive labour market incentivesen_NZ
dc.publisherNew Zealand Association of Economistsen_NZ
dc.rightsAll rights reserveden_NZ
dc.subjectNew Zealanden_NZ
dc.subjectPublic Equity Dividenden_NZ
dc.subjectUniversal Basic Income (UBI)en_NZ
dc.subjectincome taxen_NZ
dc.subjectflat taxen_NZ
dc.subjecttax reformen_NZ
dc.subjectpolicy developmenten_NZ
dc.titleReconceptualisation of income tax graduation as public equityen_NZ
dc.typeConference Contribution - Paper in Published Proceedingsen_NZ
dc.subject.marsden140212 Macroeconomics (incl. Monetary and Fiscal Theory)en_NZ
dc.identifier.bibliographicCitationRankin, KR. (2018). Reconceptualisation of Income Tax Graduation as Public Equity. In New Zealand Association of Economists (Ed.), 59th Annual Conference of the New Zealand Association of Economists--- Full Papers (pp. 1-15). Retrieved from
unitec.institutionUnitec Institute of Technologyen_NZ
unitec.publication.titleNZAE Conference - Auckland University of Technology - June 27-29. 2018en_NZ
unitec.conference.orgNew Zealand Association of Economistsen_NZ
unitec.conference.locationAuckland University of Technology, Auckland, New Zealanden_NZ
dc.contributor.affiliationUnitec Institute of Technologyen_NZ
unitec.institution.studyareaAccounting and Finance

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