How does a focus on monetary success influence income tax strategies?

Co-directors: Merridee Bujaki, Accounting, and Nassim Tabrim, Psychology
Project Title: Money Matters: Assessing the Consequences of Financial Self-Concept for Tax Attitudes and Compliance
Funder: CORIS REALISE Seed Grant
Award Duration: 1 year

This project will extend previous research that suggests that individuals with a financially focused self-concept (i.e., who overvalue the importance of financial success when determining self-worth) may be prone to gambling problems. In particular, it will investigate a potential connection between financially focused self-concepts and support for aggressive tax minimization strategies.

To this end, the team will recruit people working and studying in the field of financial management (e.g., as accountants, financial advisors, tax lawyers; n=1,000) for a self-report survey that will assess, among other things, willingness to pay taxes (tax morale), perceptions of government use of taxes, and the extent to which they have a financially focused self-concept. Findings will provide valuable insights into the factors that influence individuals’ tax payment behaviours, with implications for tax policy and financial education.