11 February 2015

Measure Seeks to Expand Number of Dependents

Nancy Binay
The Binay political family may be besieged by various allegations questioning their credibility, but this does not mean that they should stop doing what they are supposed to do.

One Binay family member has filed a legislative measure seeking to address the inequalities and biases against large families by removing the limitation on the number of qualified dependents a taxpayer may claim for tax deduction, as well as expanding the coverage of qualified dependents.

Authored by Makati Representative Mar-Len Abigail S. Binay, House Bill 5020, or the "Family Care Act of 2014," aims to strengthen the solidarity of the Filipino family, as well as to ensure the welfare of the elderly, as stipulated in the Constitution.

"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.

To achieve these goals, Binay said her proposal seeks to remove the limitation on the number of qualified dependents that a taxpayer may claim for tax deduction. At present, she said a maximum of only four qualified dependents may be claimed by qualified taxpayers as additional exemption.

The bill also seeks to expand the coverage of qualified dependents by including aging parents and persons with mental or physical disabilities, regardless of age.

Upon approval, the bill provides the Department of Finance, in coordination with the Bureau of Internal Revenue and the Department of Social Welfare and Development to issue the necessary implementing guidelines of the bill.