Will Reduced Tax Mean Greater Love for Aged Parents?

would you live with your elderly parents because you love them and want to take care of them in their old age? or would you be cajoled into doing that because you hope to gain financially from the arrangement?

this is the intense debate triggered by a recent government decision that promises your tax will be reduced if you share the same roof with your aged parents and take care of them.

it began in december 2015 when the local government of shenzhen in south china’s Guangdong Province issued a draft plan to tackle the problems of an aging population. the draft says the government will offer a tax rebate to employed people who live with their aged parents.

According to china National committee on Aging, by the end of 2014, china had 212 million people above the age of 60, accounting for 15.5 percent of the country’s population. the figure is expected to surge to 487 million - 35 percent of the population - by 2053. An aging population will pose severe challenges to the nation in the near future.

when the draft was released, the public became divided on whether young people should be given financial incentives to care for their elderly parents. those supporting it say the policy will lighten young people’s financial burdens. Also, by sharing the same roof with their elderly parents, they will be able to take care of the former’s daily requirements as well as emotional needs.

But critics of the policy say living under the same roof doesn’t necessarily mean filial piety. A utilitarian arrangement entered into due to financial considerations may lack filial love and care. the government should also play its role in providing for the elderly.