UNIVERSAL BASIC INCOME: THE POTENTIAL IMPACT ON THE AUSTRALIAN TAX SYSTEM
Abstract
Due to changes in the labour force and the effects of growing income inequality, sustenance payment policies such as Universal Basic Income (UBI) are increasingly being looked to as possible solutions. Typically, tax law concerns the extraction of money from individuals to fund government spending, however the idea of a UBI provides a different way of conceptualising the transfer system. This paper examines if UBI legislation would be valid under the Australian Constitution and the potential impacts it may have on Australian tax law.