Project 2613

Team Name

Team 2613

Team Members

Project Description

We propose the Tax Vulnerability Index (TVI) which is an indication of whether an individual would be succeptible to missing tax payments. The TVI for an individual is calculated from various features, including:

Income
Superannuation
Whether the individual has a HELPS loan
Whether the individual has difficulty understanding English
Whether the individual has missed tax obligations in the past

The weighted sum of all the features is taken to compute the TVI. The income and superannuation are interpolated from percentiles to 0-1. The resulting TVI is a number from 0-100.

The weights chosen are just heuristic. In practise, we advise that analysis of real data is done to find the appropriate values for these weights. However, it still functions as an indication that an individual may require assistance to meet their tax obligations.

Data Story

Percentiles were calculated from the income brackets populations from the dataset "Individual statistics from Taxation Statistics 2021-22".
Percentiles were calculated from the superannuation brackets populations from the dataset "Individual Statistics from Taxation Statistics 2021-2022"
The socio-economic index decile are looked up from the postal code from the dataset "Socio-economic Indexes for Areas"

All data points were normalised using min-max normalisation.

The normalised data points were computed with a weighted sum, then min-max normalised to a value from 0-100