The new Statement of Assets, Liabilities and Net Worth (SALNs) could improve transparency and accountability in government service.
The major changes are:
- Inclusion of the spouse’s properties, including that paraphernal type –meaning property one brings to the marriage or acquires even after marriage, especially inheritance — and that of children below 18 years of age living in the filer’s household.
- The use of acquisition cost for computation purposes. While all assets of minor children and the spouse should be listed, these will be excluded from computation. Also excluded is a spouse’s exclusive property if he/she files a separate SALN. (Insert)
- Filers must now list GROSS INCOME from all sources and not just list down financial or business interests.
- Filers must also submit personal and family expenses for the year, to include education and health costs, and the cost of vacations and other travel and big-ticket expenditures.
- They must also submit ALL TAXES paid on all income/earningS whether through sale of properties, dividends, honorarium or regular income
