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Baby boom: Tax deduction available for second, subsequent children

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Baby boom: Tax deduction available for second, subsequent children

By The Nation

 

94689483190272bf6724f9d45d037a50.jpeg

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The Revenue Code has been amended to allow an annual Bt30,000 tax deduction for each additional child born in 2018 to couples who already have at least one child.

 

This change, punished in the Royal Gazette on Sunday and in effect from Monday, is designed to encourage married couples to have more children as the government seeks to increase the national birth rate amid a shrinking workforce and ageing population.

 

Taxpayers could already claim a Bt30,000 deduction for their first child. Beginning early next year, the same amount can be claimed for a second child.

 

The proportion of elderly people is expected to rise to 30 per cent of the overall population by 2036, designating Thailand as an “ageing society”.

 

Full Story: http://www.nationmultimedia.com/detail/national/30358371

 
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-- © Copyright The Nation 2018-11-12

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I would say a smart move. Thailand is not far off the tipping point of the population going into decline. Any encouragement to populate is a good thing. I try and do my best but a vasectomy doesn't help. 

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14 minutes ago, Mitker said:

IMHO, given the condition of the planet, the last thing I would encourage is to increase any further the burden human species puts on it

Definitely agree. There is no sweet future ahead for those born this century. Food will be an issue as temperatures rise into the ranges that reduce crop yields. Cutting forests to add rai to what is cultivated then accelerates the demise. This is a short term thinking idea - not uncommon in the world. Many other nations have been less wise than Thailand has been for decades on this score.
Aging populace wants to have another go at the Ponzi scheme, new babies made to care for them. Sad to see it but know I've no voice in local policy.

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Bt 30,000 tax deduction per child; using a tax rate of 20%, means a 6,000 baht saving on taxes per year.

But to raise a child you need to connect it to a smartphone, which costs about 12K for a good one.

 

 

Now if we assume a smartphone in the hand of a kid lasts 2 years, it just reached break-even...

 

 

hmmm,

 

time to have another child 🙂

 

 

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9 minutes ago, RPCVguy said:

Definitely agree. There is no sweet future ahead for those born this century. Food will be an issue as temperatures rise into the ranges that reduce crop yields. Cutting forests to add rai to what is cultivated then accelerates the demise. This is a short term thinking idea - not uncommon in the world. Many other nations have been less wise than Thailand has been for decades on this score.
Aging populace wants to have another go at the Ponzi scheme, new babies made to care for them. Sad to see it but know I've no voice in local policy.

Food will be an issue as temperatures rise into the ranges that reduce crop yields.

A rise in temperatures means higher crop yields in the most productive areas of the world (the west) leading to a total increase in food production.

Cutting forests to add rai to what is cultivated then accelerates the demise.

Cutting forest leads to more CO2, which leads to higher crop yields (which is the reason they pump extra co2 into green houses)

This is a short term thinking idea

Depending where you put the cut-off between short term and long term. Without this thinking the country will go under in 30-50 years, and with this thinking the world go under in 1000-10000 years.

 

Edited by Bob12345
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Bob, you are either uninformed or misinformed. IF anyone would like to be informed, try to log into the current global cyber seminar being hosted by PERN Seminars. I've been a participant in the past, but am anticipating just reading along on this one. It's title is "Climate, Migration and Health: An Underexplored Intersection" which is now underway [12 November 2018 to 16 November 2018] A 4 page introduction is in this PDF with the website hosted through PERN CyberSeminars
 

  • Even corn in the USA is near the temperature when its yields will be reduced due to temperatures during its growing season. These next two images are part of a lecture on the topic - presented by Prof. David Battisti. Here is a link that drops into the video presentation as it moves into this topic specifically
     
  • CO2 is not the limiting factor for plant growth, there are other factors which need to be present in balance. You are repeating assumptions made before studying the issue. Here is just one of a multitude of articles available to help clarify that myth. "Rising CO2 levels might not be as good for plants as we thought"
     
  • " The Seneca Effect describes a situation in which the feedbacks of the system act together to generate a rapid decline of some of the stocks (populations) of the system. The typical “Seneca Curve” (or “Seneca Cliff”)  is shown in the figure below [3]⁠ "
    Again there are many articles on the pending collapse of a global civilization. one that tries at the end to be hopeful is "A Seneca Collapse for the World’s Human Population?"
    A second, more analytical and less optimistic one is "The Seneca effect: why decline is faster than growth"


    image.png.14b239bf07aa894073332602da8ca981.pngimage.png.1c8817eec991b6120e295220aa3401fd.png

    A "SENECA CURVE" is a reference to the contraction of populations being far faster than the their buildup. Humans went fro 2.5 Billion global population in 1940s to over 7.5 Billion today
    That growth is unsustainable and the current population is unsustainable. This century will see the contraction at far faster than death rates due to old age. Making more babies adds more people to suffer through what is ahead.

    SenecaCurve.png
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14 hours ago, Cadbury said:

I would say a smart move. Thailand is not far off the tipping point of the population going into decline. Any encouragement to populate is a good thing. I try and do my best but a vasectomy doesn't help. 

Nothing the government ever does is smart. 

I remember not that long ago, there were government incentives for Thais to get sterilized. Now, they swung in the opposite direction. Does anyone not see that government policies of today create the problems of tomorrow? 

They f up everything

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Considering that number of people who don't file or pay taxes, this looks like a non-starter.  Basically it says, "We want upper-middle class Thais to pop out more babies."  If they wanted to stimulate the birth rate throughout all income levels, than they'd allow that 'tax deduction' to offset VAT using 'baby vouchers' that could be used to deduct the VAT at the point of sale.  Yeah - Dream on.

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2 hours ago, RPCVguy said:

Definitely agree. There is no sweet future ahead for those born this century. Food will be an issue as temperatures rise into the ranges that reduce crop yields. Cutting forests to add rai to what is cultivated then accelerates the demise. This is a short term thinking idea - not uncommon in the world. Many other nations have been less wise than Thailand has been for decades on this score.

I would agree too but for different reasons.  The new crop of kids are essential as consumers and cannon fodder - both to support continued profits for the benefit the global oligarchs via their corporations.

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1 hour ago, connda said:

Considering that number of people who don't file or pay taxes, this looks like a non-starter.  Basically it says, "We want upper-middle class Thais to pop out more babies."  If they wanted to stimulate the birth rate throughout all income levels, than they'd allow that 'tax deduction' to offset VAT using 'baby vouchers' that could be used to deduct the VAT at the point of sale.  Yeah - Dream on.

They are probably targeting parents of exactly the children they want. Those that are the more successful members of Thai society probably have slightly higher IQ's. As business and technology get more complicated they are hoping for higher IQ children. 

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Before birth Somchai runs away lol

4 hours ago, Ulic said:

They are probably targeting parents of exactly the children they want. Those that are the more successful members of Thai society probably have slightly higher IQ's. As business and technology get more complicated they are hoping for higher IQ children. 

LOL

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Wrong way. The world is already overpopulated and Thailand is in the epicenter of it.

 

population-circle.jpg

 

About 1/3rd of the current population would be somewhere in the vicinity of sustainable. Offer free sterilization.

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