Mutual assistance for single people, make your own rules
Recently, China is plan to launch several special expenses deductions on tax such as children’s education expenses, continuing education expenses, medical treatment expenses for critic illness, housing loan interests, housing rents and so on.
That’s means that payment of individual income taxes in China would consider the practical situation of family. The tax base would be the result of total income minus the necessary expenses such as housing, medical treatment and education. It would be more humanized.
At this time, Chinese individual income taxes is based on income from wages and salaries. With the aging of the population, young adults need to support the old and raise the kid at the same time, which is truly a very heavy burden. The cost of life is rising higher, and maybe it’s why there are more and more people choose non-marriage or DINK.
In this new system of individual income tax, when Consolidated income is equal, the person with children could pay less taxes. Some people online called this phenomenon “special tax for single people”
Of course, there is no such real thing as “single tax”. Because of being single, people could not get particular tax deduction.
It’s not only in China that government has policy to encourage Fertility since birth rate is getting lower in the world. According to the record, there are 240 million single people in China in 2016, and this number would rise to 400 million in the near future. In France, there are one third of people are single. The number in Berlin, German is more appalling, which is 54% of single people. In Japan, unmarried rate of men between 30-34 years old is 47.1% and women is 32%.
Nowadays, there are more people choose to be single, which gradually become a problem to all countries.
A 21 to 50 years old unmarried man who lives in Missouri, America need to pay more taxes than his married neighbor. In 2015, tax reform plan of Korea restored the tax exemption for fertility and adoption.
A British research shows that single person would cost 5000 more ponds than married one. If a man live alone for a life time, he would spend 250 thousand more ponds than married people. Freedom has its price.
Actually single people are vulnerable groups in many situation, after all, they don’t even have a person to accompany to dinner.
A health report from Korea points that the single people’s rate of eating alone is much higher than the married ones. In South Korea, 91.8% single people eat alone and this rate among married people is only 20.9%. 55% of young people said that they just eat some breads or instant noodle when they eat alone, which is unhealthy. Such tendency may make these single people new disadvantaged group of health.
It seems that our mutual assistance could be suitable for single people too. People should make up a group and store some money together. if any risks happened or someone getting married, he could claim this money for treatment or wedding.
On insChain mutual platform, everything is possible. We let users make the rules and realize them. Do you have other great ideas? Please contact us.