Taxes are a few mandatory financial charges imposed by the government on taxpayers to fund public outlay. Paying taxes is the sole duty of working citizens. And, these are a few ways the government use our taxes:
- Funding the Military – The taxes you pay help fund military programs, security-related projects, and sometimes war, but mostly food and shelter. The houses at the defense quarters are also built using the tax payer’s money.
- Country’s Infrastructure – How else do the roads and buildings remain well maintained and sturdy. It is our money that goes into maintaining it. Not only that, but the money is also used in helping the ones below the poverty line by building hospitals, schools, supplying gas pipelines, and much more.
- Health Programs – The tax money funds medical care for all, orphanages, hospitals, health, and life insurance programs, etc.
- Education Programs – Schools and universities are built for the underprivileged which provides teaching and learning free of cost.
- Pay off debt – If the country is in debt, it affects the GDP which affects the economy, so to avoid this the taxpayer's money is also used to pay interest on national debts to international money lending organisations or banks.
Paying taxes is a must and if it's a time-consuming task for you to work on them, as you have other important matters to look after, consider hiring an accountant for yourself. You find the best ones from accountants in Runaway Bay. Their services are highly rated.