2024-01-02 13:47:09
Vienna. Family allowances increased by 9.7 percent in Austria! In particular, Familienbeihilfe (Family Allowance), Mehrkindzuschlag (Supplementary allowance for those with multiple children) and Kinderabsetzbetrag (Child deduction), Kinderbetreuungsgeld (Childcare allowance) and Familienzeitbonus (Family time bonus) as well as Schulstartgeld (School starting allowance) will now be adjusted annually for inflation. As a result of the valuation, it is expected that families in Austria will receive 9.7 percent more aid for 2024; This means an increase of up to 2,200 euros per year.
Family Minister Susanne Raab said: “By increasing family benefits in line with inflation, we have managed to provide significant relief for families in Austria. I am proud of this because families are the heart of our society and should be at the center of our policies. This can also be seen in the family budget, which is higher than ever at 8.7 billion euros. “By valuing family benefits, we support families further and ease the burden on them: next year, all family benefits will be increased by 9.7 percent and families will be able to receive up to 2,200 euros more,” he said.
Adjusting all family benefits for inflation for 2024 means that family benefit funds will increase by €433 million and childcare benefit funds by approximately €117 million. In total, 1.2 million families and 1.9 million children will benefit from this valuation.
The change in family benefits in the new year will be as follows:
Childcare allowance: Depending on which childcare benefit option you choose, this is between 1,000 and 2,000 euros more.
Family allowance plus the child tax credit: Family allowance plus child deduction is approximately 212 euros more per child if the child is under 3 years old.
This means that with current inflation there will be additional payments of up to 2,200 euros per year.
The family time bonus: The family time bonus given during fatherhood month has been doubled to enable more fathers to spend family time. This represents an increase from 740 euros to over 1,480 euros per month and is another measure to strengthen fathers’ participation. This amount will be assessed annually and will therefore be approximately 1,600 euros per month from 1 January 2024. Since 1 January 2023, the family time premium is no longer offset against the childcare benefit the father subsequently receives.
Childcare allowance: The additional earnings limit for income-related childcare allowance, which aims to enable marginal employment, will be increased from 7,800 euros to 8,100 euros in 2024.
Family Bonus Plus for adult children: From 1 January 2024, the Family Bonus Plus for adult children will be increased from 650 euros to 700 euros and the additional child allowance from 550 euros to 700 euros.
#Years #good #news #families #percent #increase #family #allowances