When Is a Child Ready for an Allowance? - The Simple Dollar
This question has been on our minds quite a bit recently, as our three and a half year old son continues to grow and mature.
We’ve long planned on giving our children small allowances that are not tied to household chores, and now we’re actually faced with a child that’s nearing the maturity level to understand it.
He understands that money is used to buy things.
In order to get an item, you have to exchange some amount of money for it.
Similarly, he understands that there is only a limited supply of money.
There is not an infinite amount of money – in fact, in his world, there’s not much money at all.
Thus, you can’t simply buy everything you want.
He also understands that different items have different prices.
You don’t have to give much money for some things.
However, you have to give quite a bit of money for other things.
Not all items have the same price.
He also understands that , though this lesson has been guided greatly by Mom and Dad.
Finally, he can count to twenty with ease and count quite a bit higher with some coaxing and concentration.
He can not only count abstractly, but he can also count items: coins, chocolate chips, and so on.
From my perspective, this means he’s ready for an allowance (though my wife and I are still discussing it).
On the other hand, I know other parents of children as old as six who don’t feel their child is ready for an allowance.
Our goal with giving an allowance is straightforward: we want to teach him the value of saving, charity, and money management through his own experiences.
Questions to Ask When Considering A Child’s Allowance
1. How big should his allowance be?
There’s a fine balance to achieve here.
It needs to be enough so that it’s relevant, but not large enough so that he’s spoiled.
I’m leaning towards an allowance equal to his age in dollars – so, $3 now, $4 when he turns 4, and so on.
2. What kind of restrictions should we put on it?
From my experience, an allowance given with no restrictions often winds up being spent on bubble gum, which kind of defeats the purpose.
I’m leaning towards .
To put it simply, it has the child split his or her allowance into four piles: spend, save, donate, and invest.
The “spend” pile is straightforward – that’s his money to do with what he chooses.
If he wants to take his money and buy a Hot Wheels car with it, he can.
If he wants some bubble gum, he can buy it.
The “save” pile is similar – he can spend it on whatever he wants, but it has to be a defined large goal.
Perhaps he wants another track set for his wooden railroad, for example, or maybe he’d like to buy a Christmas present for someone with his own money.
This would build up over many weeks, and if he chose, he could contribute more from his “spend” pile towards it.
The “donate” part allows him to choose every so often (once every three months or so) to give the money to a cause of his choosing.
This would open the door to a lot of discussion about others in need and allow us to introduce charities to him.
I know a child who saved for two or three years and donated a whole heifer via Heifer International, for example.
For his purposes, the “investing” part will be a very long term thing – he can watch it build and build and build, then when he’s older, we can use that money to begin learning how to invest it for the future.
I’d love it if he took some of the quarters he saved when he was three, invested it somewhere, and used all of the proceeds to buy a house when he’s a young adult.
If we go down this path, we may start the allowance by giving him such a “savings pig.”
3. What about his younger sister?
There’s also a twenty one month old girl in our home, one who doesn’t have the foggiest idea about money yet.
Before long, though, she’ll become aware of it – and she’ll be aware that her big brother is getting an allowance.
We’re not sure how to handle this.
Should we give her a very small “spend”-only allowance for now, changing it when she reaches age three or so?
Or should we just wait entirely until she’s old enough to understand the ideas?
We’re leaning towards no allowance for her for now, making it clear to our son that he’s getting the allowance because he’s older.
Our goal in the end is to teach our children why it’s awesome to save and plan ahead.
Your comments and thoughts on this plan are greatly appreciated.
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How far would you go for things like clothes, shoes, sports equipment, etc.?
Instead of just buying these things outright for them you could go down the path of having them save up for things known in advance (and include increase in allowance).
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/when-is-a-child-ready-for-an-allowance/Overtime meals or allowances
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Overtime meals or allowances
If you provide overtime meals, or an allowance for overtime meals, there is no taxable benefit if all of the following conditions apply:
The allowance, or the cost of the meal, is reasonable. We generally consider a value of up to $17 (including the GST/HST and PST) to be reasonable. We will consider higher amounts reasonable if the relative cost of meals in that location is higher, or under other significant extenuating circumstances.
The employee works two or more hours of overtime right before or right after his or her scheduled hours of work.
The overtime is not frequent and is occasional in nature (usually less than three times a week).
If overtime occurs frequently or becomes the norm, we consider the overtime meals or allowances to be a taxable benefit, since they start to take on the characteristics of additional remuneration.
Include any GST/HST and PST that applies to the value of this benefit.
For examples of situations where overtime meals, or allowances for overtime meals, are considered taxable benefits, go to .
Payroll deductions
If the benefit is taxable, it is also pensionable. Deduct income tax and CPP contributions.
If the taxable benefit is paid in cash, it is insurable. Deduct EI premiums. If it is a non-cash benefit, it is not insurable. Do not deduct EI premiums.
Reporting the benefit
Include the taxable benefit in box 14 "Employment income," and in the "Other information" area under code
40 at the bottom of the employee's T4 slip. For more information, see .
Date modified:求教F6，2011年6月真题（第二题）关于Capital Allowance的_acca吧_百度贴吧
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求教F6，2011年6月真题（第二题）关于Capital Allowance的收藏
2011年6月真题（第二题），或者BPP练习册31题：Molten-Metal plcWorking 1算capital allowance，里面的 Office building 和不可移动的Wall，怎么都没有算AIA，甚至连sperial rate pool也没算（也没算10%的Allowance)，这个怎么解释啊？题目是这样子的：1.5.11 Purchase of a second-hand freehold office building for 378,000. This figure included 32,000 for a ventilation system and 46,000 for a lift. Both are the ventilation system and the lift ar integral to the office building. During May 2011 Molten pls spent a further 97,400 on repairs. The office building was not usable until these repairs were carried out, and this fact was represented by a reduced purchase price.8.8.11 A payment of 41,200 for the construction of a new decorative wall around the company's premises.
开始还以为是BPP练习册写错了，去官网上下载的答案也是如此（下图），请大神指教！！
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When container ready for pick up at terminal container yard, China Shipping will give customer 3 working day allowance.
当集装箱在集装箱堆场准备吊装时，中海集运（公司）将会给客户三个工作日的宽容（时间）。
When container ready for pick up at terminal container yard, China Shipping will give customer 3 working day allowance.
轮船公司滞期费：从船上卸下后，满载的集装箱在某加拿大港集装箱码头等待客户或收货人提取——即为滞期。
It is concluded that the effect of peak current and pulse duration on the machining allowance is decreased owing to the powder suspending in working fluid.
结果表明粉末的加入降低了加工余量对峰值电流和脉冲宽度的敏感程度。
Universal credit - being introduced by Work and Pensions Secretary Iain Duncan Smith this year - aims to simplify the welfare system by replacing a number of existing working-age benefits, including the income-based jobseeker's allowance, income-related employment support allowance, housing benefit, working tax credit, child tax credit and income support.
But the government says that with public sector pay rises capped at 1%, a similar limit should apply to working-age benefits such as jobseeker's allowance, employment and support allowance and income support as well as elements of working tax credits and child tax credit.
And his cuts to tax credits will dwarf any gain from the rise in personal allowance for millions of working families.
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