工作20年就等於瘫痪?! �?�亲的价值?!

Posted by Eric Tan on Mar 27, 2008 in thinkin' loud, Web Quotes |

Had a coffee break with Kitchi yesterday. She summarized it quite precisely. 哲學啊~~

Kitchi：“今天我在我报看到一�?版，2005年有一个人骑脚车撞上路上的A Frame，全身瘫痪…Koh Brothers (contractor) 赔了800�?�给他…�?
TSB：“Ei？�? 为什么是contractor赔，�?是LTA咧？�?�?
…�?略…
Kitchi：“哦，我在想噢，800�?�咧，差�?多是工作20几年的总薪水…�?
TBS：“Er？�?所以你是说工作20几年就等於瘫痪啦�?�?
Kitchi：“Ei？�?真的，�?这样讲应该也是�?�以。20年，大概就瘫痪了。�?

Summary for non-Chinese readers (Do I have any?) – A cyclist met an accident, paralyzed and received compensation of 800K. If you make 30K ~ 40K a year, 800K is about 20 years. So, 20 years of working = paralyzed?

TSB：“我之�?在报纸看到�?税的�??大方法，例如和父�?�?��?，供养父�?etc …结果�?�现回扣最多的是第二个孩�?�?
Kitchi：“…�?
TSB：“如果你有第二个孩�?，税务局给的回扣是20�?�，是需�?交税直接扣掉20�?�；而�?是从你的income里�?�扣20�?��?�?�算该付的所得税�?
Kitchi：“是么？�?
TSB：“�?供养父�?，好�?�?��?�以从income里�?�扣8�?��?算该付的所得税�?
Kitchi：“Ei？�?�?
…�?略…
Kitchi：“所以hor …两个�?�亲的价值竟然低于第二个孩�?�?

Summary: If you stay and take care of both your parents, you get 8K relief from tax. If you have 2nd kid, you get 20K rebate. So 2nd kid is greater than 2 parents?

A quick check bring me to a more precise number, 10K (for both parents). and 10K for 2nd kid, 20K each for 3rd and 4th kid.

Well, you might think, looking after 2 parents worth half of your 2nd kids (not my point of view, purely based on IRAS relief and rebates), I’m sorry you are wrong.

Case A: no relief nor rebates: annual income 20K or less pay no tax.
Case B: looking after 2 parents: annual income 20K + 10K = 30K or less pay no tax.
Case C: Give birth to 2nd kid: annual income 120K or less pay no tax

tax – rebate = 0
tax = first 80K tax + next 40K tax = 4300 + 5700 = 10K (check here for actual rates)
rebate = 2nd kid rebate = 10k

i.e. 120K or less pay no tax.

Hmm… 30K… 120k.. hmm.. so parents worth 1 quarter of 2nd kid?

Think again… 20K is the no tax zone…

30K – 20K = 10K
120K – 20K = 100K

Maybe, from tax relief point of view, your parents worth just 1/10 of a second kid…

Well, that’s not my point of view. Just some stupid calculation.

Tags: life, tax, value

4 Comments

kitchi

Mar 28, 2008 at 8:41 am

after serious consideration of this issue, maybe it’s not really the matter whether parents = 1/4 or 1/10 of 2nd child.
put it this way, as a parent, you need to have full responsible of rearing a child (1st or 2nd one), but for our parents as an adult will most probably will have their saving, their house, their other children.. therefore the financial will not weight as much as own children.
this is the only possibility i can think off.. anyway.. it’s good to see such calculation..