Mothers under the age of 30 do not have to pay personal income tax, as a result of which their monthly earning could increase by an average of HUF 52,000.Continue reading
The government considers the protection of families with children to be of paramount importance, which is why it will provide HUF 3,307 billion (EUR 8.6 billion) for family support in the 2024 budget, despite the difficult economic situation caused by the war and sanctions, announced the State Secretary responsible for families.
Ágnes Hornung wrote on her Facebook page that the country’s leadership has been committed to family-friendly governance since 2010, and next year’s budget, which is three and a half times higher than in 2010, confirms this.
Next year, the amount available for cash benefits such as the maternity allowance, the childcare fee, the baby-care allowance, the childcare benefit, and the family allowance – will be increased to 1,300 billion forints (EUR 3.3 billion), a growth of more than 10 percent compared to this year.
In 2024, the resources for baby-care allowance will be 12 percent higher, with an increase of about 18 billion forints (EUR 46.8 million); for the childcare benefit there will be a 14 percent increase, with 49 billion forints (EUR 127.6 million) more available. Moreover, the baby expecting loan’s amount has been increased as well, from a total of HUF 10 million (EUR 26,000) to HUF 11 million (EUR 28,650).
According to the budget adopted on Friday,
young people under 25 will continue to benefit from the personal income tax exemption in 2024, mothers will remain tax-free until the age of 30, and the government will also provide fee reimbursement for the first successful language examination and for the traffic education course and examination next year,
the State Secretary highlighted.
She added that an amount of HUF 31 billion (EUR 80.7 million) more than in 2023 will be spent on the family tax allowance, personal income tax exemption for mothers with four or more children, young people under 25, and women having children up to the age of 30, totaling HUF 606 billion (EUR 1.5 billion).
Hornung also pointed out that in order to ensure a quality link between family and private life, the amount of subsidies for the operation of the nursery system will increase steadily in parallel with the increase in the number of places in nursery care; the amount available next year will be more than seven and a half times the amount in 2010.
The budget is based on family protection, security, and predictability,
the State Secretary emphasized. She added that the government has increased the number of family support elements to more than 30 over the last 13 years, and remains committed to maintaining and renewing them to provide the most effective help for families.
Featured photo via Pexels
