Is that under the assumption that payroll tax, in the long-run, is a tax on real labour income? Btw, I wish you guys the best of luck. It's surprisingly complex and difficult to explain. Just in case it's of some use, check out page 285 for a discussion on CFTs (followed by a discussion on payroll tax): https://taxreview.treasury.gov.au/content/downloads/final_re...
EDIT: This gets even more complex/interesting if you are of the view that labour-value add will be an increasingly smaller share of total production value-add in future (i.e. due to automation)...
EDIT: This gets even more complex/interesting if you are of the view that labour-value add will be an increasingly smaller share of total production value-add in future (i.e. due to automation)...
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