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Canajun FinancesMy personal views and rants on home finances with a Canadian Perspective |
My Spouse Is Worth How Much?
How much is the work that my spouse (who stays at home and WORKS) worth in the eyes of the government? That's a darn good question. If we go back to our happy calculations from our last set of Blogs:
- Assume an income of $100K (yes, I keep choosing that number because it is easy for me)
- All we need to compare is the income of a Single Person that makes $100K and someone with a spouse, right?
- Assume this is Ontario (the good) of course.
OK, if we now look at a married couple where one spouse makes $100K and their spouse or live in partner do not have enough income for the Tax folks to notice, they would pay: $28,219.00 So this says to me (and I could be mistaken), that my spouse who works very hard at home is worth: $1733.00
That is real money too guys (i.e. it's money you aren't paying in Tax, so it is REAL money). If I get paid every two weeks, that means my spouse is worth $66.00 per pay cheque.
That is not fair, now is it? My spouse's labors to take care of our kids, the house and keep me from killing myself is worth $66.00 every two weeks? NO! That is not right.
Again my numbers are thanks to our friends at Quicktax.
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