Solon seeks more tax benefits for larger families

By , on October 6, 2014

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MANILA – To address the inequalities imposed against large families, a lawmaker authored a bill that will remove the limitation on the number of qualified dependents that a taxpayer may claim for tax deduction.

House Bill 5020, or the “Family Care Act of 2014, authored by Makati Representative Mar-Len Abigail S. Binay, also seeks to expand the coverage of qualified dependents.

The said bill is aiming to promote the solidarity of the Filipino Family and ensure the welfare of elders.

“Hence, Congress shall give highest priority to the enactment of measures that will grant reprieves and reduce social and economic inequalities by alleviating the financial conditions of every family especially those with more children, those individuals caring for aging parents, and those who act as legal guardians to persons with mental or physically disabilities,” said Binay.

Binay added that the proposal is seeking to remove the limitation on the number of tax dependents, which has a maximum of only four dependents in the present law.

This means that at present, only four qualified dependents are allowed to be claimed as additional tax exemption.

She added that in order to achieve the goals of promoting equality, the coverage of qualified dependents which includes aging parents and persons with mental or physical disabilities, must be expanded, regardless of age.