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The government has extended the deadline for applying for several important forms of family support, and the system will be extended with a new element, Magyar Nemzet reports.
Under the recent government decrees, the so-called baby-expecting loan (babaváró hitel) and the rural family housing support (falusi csok), will be available until the end of 2024, and mothers who have a child before the age of 30 will not have to pay personal income tax from January 1.
But it looks like the home renovation subsidy and the car purchase benefit for large families will have to go, the newspaper adds.
The baby-expecting loan is the most popular form of family support; it can be applied for as a free-use loan of up to 10 million forints from banks. When the first child is born, the loan becomes interest-free and repayments are suspended for three years. When the second child is born, 30 percent of the debt is waived and repayments are suspended for a further three years. With the third child, the entire debt is canceled.
Although several family support schemes were due to expire at the end of the year, the government wanted to maintain them and even expand the family support system despite the poor economic situation caused by the war, the newspaper says.
A new element of support has been added. On Wednesday, Ágnes Hornung, State Secretary for Family Affairs, announced the introduction of the personal income tax exemption for mothers under 30. Until now, this benefit has been available to mothers of four or more children and young people under 25, but from January 1, up to tens of thousands of young mothers will be able to benefit from this option.
Hornung stressed that as with all family support, the government’s aim is twofold. As well as encouraging childbearing, they also want to ensure that more money stays with families with children.
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