How would the cost of education be taxed?
Education covers many types of activities. Educational expenses are a very broad, indeed ill-defined, group of costs. Many educational expenses will be subject to the tax. However, education is generally less consumption than it is investment in our familys and nations future. Such education will be partially exempt from the FCT. Specifically, tuition in primary and secondary schools up to $5000 annually per child will be exempt from the federal consumption tax. Post-secondary education that is career oriented will be exempted from the FCT on $15,000 annually of tuition and mandatory academic fees per individual. In addition, mandatory expenses (such as textbooks or lab supplies) will also be exempted from the FCT. University, college, community college and tech-school programs will all qualify. However, recreational and other courses that do not meet the career-oriented criterion (e.g., basketball camp or a personal investment program) will not generally be exempt from the tax. [The $
Education covers many types of activities. Educational expenses are a very broad, indeed ill-defined, group of costs. Many educational expenses will be subject to the tax. However, education is generally less consumption than it is investment in our familys and nations future. Such education will be partially exempt from the FCT. Specifically, tuition in primary and secondary schools up to $5000 annually per child will be exempt from the federal consumption tax. Post-secondary education that is career oriented will be exempted from the FCT on $15,000 annually of tuition and mandatory academic fees per individual. In addition, mandatory expenses (such as textbooks or lab supplies) will also be exempted from the FCT. University, college, community college and tech-school programs will all qualify. However, recreational and other courses that do not meet the career-oriented criterion (e.g., basketball camp or a personal investment program) will not generally be exempt from the tax. [The $
