The coronavirus pandemic has become an ordeal for the German economy and the state treasury. Nevertheless, families can count on the payment of the money planned even before the pandemic. The Bundestag was today considering the Family Assistance Act.
It provides for an increase in child benefits from January 15 to 219 euros for the first and second child. The allowance for the third child, after the increase, will be 225 euros, and for the fourth and each subsequent child – up to 250 euros. In addition, it is planned to increase the amount of income that is not taxed.
Under the bill, families with higher incomes who do not financially benefit from child support will receive tax breaks. The tax-free income per child will increase by more than € 500 to € 8,388. And income tax on income will be charged not from 9 408 euros, as before, but from the amount of 9 696 euros. This change will help save a couple of dozen, or even hundreds of euros for all residents of the country – both with high, and low and middle income.
Thus, a family with one working parent, receiving 60,000 euros, and two children, will receive 360 euros more due to the increase in child support and will additionally save 156 euros per year in taxes. After discussion in the Bundestag, the changes will still be discussed in the Bundesrat.
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