Men capture more than two-thirds of the benefit of four tax concessions that cost the federal budget a total of $60bn a year, according to new research by The Australia Institute.
A report by the progressive thinktank, released on Monday, found that the tax treatment of superannuation in particular is turbo-charging wealth inequality in favour of men.
Men receive 71.6% of the $41.2bn given each year through superannuation tax concessions compared with 28.4% for women, meaning for every dollar of super tax concession going to women, men get $2.52.
Similarly, men received more than 70% of the $4.3bn a year benefit of negative gearing tax deductions and of the $5.2bn in franking credit refunds.
The $9.4bn a year given in capital gains tax discounts was slightly more evenly distributed, with 60.6% flowing to men and 39.4% to women. Read more…..
Chart of the Day
Warren Buffett sits down with Fortune Magazine’s Pattie Sellers to discuss the changing landscape for women in business.