Wife Relief

[RRMummy]

hquek:

:

After I had DSes, whenever I looked at them, it's like looking at little angbaos.... :love:

You are so cute!! :lol:

[3Boys]

Err....do the DWs here consider a nice dinner from hubbies as payment for......favours?


Not exactly paid sex but comes close right? Technically such benefits in kind are not tax free......


Siao liao, from income tax to paid sex, you all really havoc hor?

[3Boys]

hquek:

The strange part about tax rules here is that if the wife is high incomer and hubby is low incomer (or even SAHF), the couple will end up paying very little tax, compared with one where father high income and wife low/no income.:

How does that work? There are some things that can only be attributable to a working mum, but the majority of big ticket items are fungible between the two are they not?

hquek:

After I had DSes, whenever I looked at them, it's like looking at little angbaos.... :love:

Yah lor, they got more money in savings at age 2 (govt sponsored) than I had age 22.

[MMM]

3Boys:

How does that work? There are some things that can only be attributable to a working mum, but the majority of big ticket items are fungible between the two are they not?

A working mum has alot of relief such as :
* WMCR 1st child 15%, 2nd child, 20%, 3rd child 25% of the asessable income. Imagine if you've 3 kid, 60% of your income is not taxable.
* Grandparent relief - only working mum can claim
* Foreign maid levy - only working mum can claim

For tax planning purpose, we would usually let the husband claim qualifying child relief (4k for each child) and parent relief (where applicable).

Though my hubby earns more than me, he kept complaining that my income is almost similar especially after his tax payment. So the tax system really favor working mums. If only they can give working fathers more tax relief too that would be great.

[Andaiz]

MMM:

A working mum has alot of relief such as :
* WMCR 1st child 15%, 2nd child, 20%, 3rd child 25% of the asessable income. Imagine if you've 3 kid, 60% of your income is not taxable.
* Grandparent relief - only working mum can claim
* Foreign maid levy - only working mum can claim

For tax planning purpose, we would usually let the husband claim qualifying child relief (4k for each child) and parent relief (where applicable).

Though my hubby earns more than me, he kept complaining that my income is almost similar especially after his tax payment. So the tax system really favor working mums. If only they can give working fathers more tax relief too that would be great.

Yes, MMM, the tax regime does favour working mothers...now with the increased emphasis in getting women to \"return\" to the workforce, the grandparent relief and WMCR does take a whole lot of tax money out of the equation.

That's precisely the problem isn't it? SAHMs also contribute (immensely IMHO) to the economy of the country - not in monetary terms, but in nurturing of our youngsters. If that's not contribution, what is? :x

[jedamum]

Andaiz:

That's precisely the problem isn't it? SAHMs also contribute (immensely IMHO) to the economy of the country - not in monetary terms, but in nurturing of our youngsters. If that's not contribution, what is? :x

SAHM's act of nurturing own youngters is viewed as an act of selfishness; ie does not benefit the economy directly.

[Andaiz]

jedamum:

SAHM's act of nurturing own youngters is viewed as an act of selfishness; ie does not benefit the economy directly.

:siao: Yalah, and this would have to soon go the way of the Graduate Mum scheme...till the gahmen realize that the grads are the ones who choose to be SAHM and CONTRIBUTE to their offsprings' growth.

[caroline3sg]

There are grad moms who are SAHM but in my neighbourhood, those who are SAHM are the non educated or lowly educated ones.


To the govt, working moms pay income tax while SAHM don’t.

[Andaiz]

caroline3sg:

To the govt, working moms pay income tax while SAHM don't.

So it's firstly a cookie cutter society (sorry, I'm also a product of this society...not all that bad, huh? ); then its all about Dollars and Cents eh?

[sashimi]

3Boys:

Siao liao, from income tax to paid sex, you all really havoc hor?

Because wife provides more relief than IRAS mah!

And my heartfelt thanks to RRmummy for idolizing me yesterday. So touched. *sob*

I would say that kids aren't exctly angbaos, they are more like credit cards - when you get a new one, wah shiok feeling, really feel like got money to spend. And then one day you see the bill.