Japan, Singapore, Taiwan and China are facing a rapidly ageing population, and even emerging economies such as Turkey are starting to see their population age.
Turkey is looking to tackle the problem of low-birth rates and an ageing population by introducing tax cuts for families with three or more children. The country is far from being considered an ageing nation but its share or young people has been falling in recent years. It is a problem many countries around the world are facing.
In Singapore, parents are eligible to claim the Parenthood Tax Rebate (PTR) - $5,000 for their 1st child, $10,000 for the 2nd child, and $20,000 for the 3rd and each subsequent child. Working mothers may also claim the Working Mother’s Child Relief (WMCR).