Did You Know That Students Are Actually Taxpayers?
Did you really think staying in school spares you from paying taxes? Not quite!
From the house that you rent, down to the supplies that you buy for school, everything is basically taxable.
Although students who work on the side have to pay income taxes, how are non-working students “paying” taxes and giving their fair share to the government, then? And in what form?
Allowance
For students, getting your allowance or baon means taking that amount from your parents. But how else do they earn the bulk of the money that they give you?
If your parents are employed, part of their income goes to the government in the form of their income tax rate. Since you’re willingly given money that is both earned and owned by your parents, you are technically sharing the burden as a taxpayer.
Food
Think back to the food that you buy from your school canteen. Or how about the lunch that you buy at the nearest convenience store? From the chips that you eat to the bottled water and tetra-packed drinks that you consume, these also fall under the 12% sales tax that suppliers pay for. And with the TRAIN Law in effect, more of these food supplies mean you pay for tax as well.
Gas
Part of your tuition means you’re also covering for the use of your school facilities. How else will your school canteen cook food for the student body?
Electricity
Don’t take your classroom’s electric fans and lights for granted – paying for the use of your school’s facilities also includes covering parts of your school’s electricity bill, which means additional tax charge!
Transportation
Do you ride a school bus? Or do you commute going to school by riding tricycles, taxis and jeepneys? Part of the fare that you pay for public transportation also involves paying for the gasoline that drives these, which, again, also includes tax.
Whether they are working students or not, students still get to do their part in paying taxes, and doing so means availing each of their services that enable them to continue their education.
Looking for a college or university to pursue your higher education? Or are you looking for more financial literacy-related articles? Check out Edukasyon.ph’s student magazine for all your school-related needs!
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