Tax Education: A School Necessity

Imagine this: You've just landed your first job, and you're excited about your first salary. Then after some time comes the daunting task of filing taxes. If you're like many, you find yourself staring at tax forms, feeling completely lost. This moment raises a crucial question: Why wasn't I taught this in school? Our education system equips us with knowledge on various subjects, yet often misses out on teaching us essential life skills.

I remember the first time I had to file my taxes. The forms looked like a foreign language. Terms like "deductions," "exemptions," and "credits" swirled around, making me wish I had a guide. This confusion isn't unique to me; it's a widespread issue. Taxes are complex, and without a basic understanding, it's easy to feel overwhelmed. This complexity underscores a significant gap in our preparedness for real-life financial responsibilities.

Reflecting on my school days, I realise how much emphasis was placed on academic subjects. While I appreciate the value of understanding the basics of those subjects, I can't help but notice a disconnect. Now, as an engineer, I find myself using math at a level I learned in 8 th grade, rarely applying complex formulas or theorems. And as for chemistry, history, and geography, they're not part of my daily life. This realisation brings me to question: Could the time spent on these subjects have included lessons on practical life skills, such as taxes which is applicable to all in their course of life?

Tax education is more than just understanding how to file taxes; it's about financial literacy. Knowing the basics can empower individuals, helping them make informed decisions about their finances. It's about fostering a financially literate society prepared to tackle the complexities of the real world.