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Supporting the circular economy in Australia through taxation reform

Fiedler, TA ORCID: 0000-0001-8880-0309, Minas, JW and O'Keefe, PA ORCID: 0000-0002-5194-0049 2021 , 'Supporting the circular economy in Australia through taxation reform' , Australian Tax Forum, vol. 36 .

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Abstract

This article examines the concept of a circular economy and develops a range of taxation policy recommendations that are directed at supporting and encouraging participation in the circular economy within Australia. Unlike the traditional linear economic model, which follows a ‘take-make-use-dispose’ philosophy, the circular economic model promotes a system based on designing out waste and pollution, keeping products and materials in use, and regenerating natural systems. The article considers the literature on tax incentives and impositions related to the circular economy already in place or recommended in other jurisdictions. In order to understand the support needed for a circular economy in the Australian context and the potential for using taxation in these areas, interviews are conducted with circular economy stakeholders and taxation experts. The interview data were analysed and synthesized with the literature review to establish the key recommendations for taxation policy changes. The overarching aim of the article is to set the foundations for an effective national circular economy framework.

Item Type: Article
Authors/Creators:Fiedler, TA and Minas, JW and O'Keefe, PA
Keywords: circular economy, tax policy
Journal or Publication Title: Australian Tax Forum
Publisher: Taxation Institute of Australia
ISSN: 0812-695X
Copyright Information:

Copyright of Australian Tax Forum is the property of Tax Institute 2021

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