Children: A taxing problem - Mary Holm
Sunday, October 10th 2004, 9:49AM
by The Landlord
Q: My wife does not work, but will focus on child rearing until our children are at school.There is much sociological evidence that this decision is likely to benefit our children and, presumably, society.
I work, of course, and we are penalised by losing my wife's income and by being taxed at a higher rate than if we each worked to earn the same gross income.
Why can't my income be shared between my wife and me for tax purposes?
A: If you were self-employed, to some extent it could be. Does that mean we should also let waged and salaried workers split their income with their spouses?
It's an issue that seems to be debated in every developed country. Different countries have different solutions. None is fair to everyone.
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