Sunday, July 31, 2005
yes baby, no tax
On the way home today from holiday-shopping, the Boyfriend mentioned that a colleague of his told him that women who have 4 children before the age of 28 will be exempt from income tax for the rest of their lives!
[Note: I don't know how accurate this information is, although said colleague purportedly has a friend who qualifies for this exempt. I found the baby bonus (dedicated) website but was too lazy to sieve through for the relevant information.]
Can you believe it?! 4 babies before 28?!
This probably means that you'd have get married at 23, first baby at 24, second at 25, third at 26 and fourth at 27! Which means I have disqualified myself from the running; unless I get married now and have twins on my first go. Right.
Besides spending the best part of your career (the foundation-forming part of it, no less) living with morning sickness, craving for the oddest food at 3am and feeling like a baby-factory, there'll also be hell to pay just living with 4 babies.
Can you imagine... Your firstborn will be in arms when you're carrying Number Two; Number One will be crawling and Number Two will be in arms when you're carrying Number Three; Number One will be walking, Number Two crawling and Number Three in arms when you're carrying Number Four; Number One talking, Number Two walking, Number Three crawling and Number Four in arms when you're finally done.
And with such a young family, it'll probably be years until you can go back to the workforce (if ever). Your limited work experience and heavy family commitments are likely to impede any significant career development. I mean, after 4 kids, I'm certain it's only natural that a woman's focus is more her family and less her work.
So actually, the lifetime income tax exemption doesn't mean much (in terms of money saved), does it?
Sneaky sneaky Government.
// posted by the commentator @ 8:52 pm 
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