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Tax policy during a resource boom

This article explores the tax policy implications during a resource boom, with a focus on Australia. It discusses the budget forecasts, mining share of investment, projections of the global middle class, GDP per capita, employment share by industry, and corporate tax trends in Australia.

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Tax policy during a resource boom

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  1. Tax policy during a resource boom Rob Heferen Executive Director, Revenue Group 4 September 2012

  2. Global transformation underway Source: The Conference Board Total Economy Database, Maddison (2010), IMF World Economic Outlook Database and Treasury.

  3. World GDP projections Note: Purchasing power parity adjusted GDP. ASEAN-5 comprises Indonesia, Malaysia, The Philippines, Thailand and Vietnam.Source: The Conference Board Total Economy Database, Maddison (2007), IMF World Economic Outlook Database, World Bank, OECD, United Nations Population Database and Treasury.

  4. Australia’s terms of trade(Index 1900-01 to 1999-00 = 100) Index Index 180 180 160 160 140 140 5 - year centered moving average 120 120 100 100 80 80 Budget forecasts/ projections 60 60 1869-70 1894-95 1919-20 1944-45 1969-70 1994-95 2019-20 Source: ABS Catalogue Number 5204.0, RBA and Treasury.

  5. Mining share of investment Source: 2012-13 Budget Paper One, Statement Five

  6. Projections of the global middle class by region Note: The global middle class is defined as those households with daily expenditures between USD10 and USD100 per person in purchasing power parity terms. The lower bound is chosen with reference to the average poverty line in Portugal and Italy.Source: Kharas, H, 2010, ‘The emerging middle class in developing countries’, OECD Development Centre, Working Paper No. 285.

  7. GDP per capita(Per cent of OECD -15 average) Per cent Per cent 120 120 Australia 100 100 Japan 80 80 60 60 South Korea 40 40 Malaysia 20 20 China India 0 0 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 Note: OECD-15 = Australia, Austria, Belgium, Denmark, Finland, France, Iceland, Ireland, Netherlands, Norway, Sweden, Switzerland, UK, US and Canada.Source: The Conference Board Total Economy Database and Treasury.

  8. Employment share by industry Source: ABS Catalogue Number 6291.0.55.003 and Treasury

  9. Corporate tax in Australia(1980-present) Source: Business Tax Working Group Discussion Paper 13 August 2012

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