The Finance Committee approved for second and third reading a bill that would add credit points to parents of children up to the age of 3. The increase in income will be done by adding tax credit points or by adding to a work grant for parents whose income is low.
The value of a credit point for 2024 is NIS 2,904 per year, and the meaning of each point is a reduction of approximately NIS 242 per month in the tax paid. A single parent in a family without another parent will be entitled to double credit points for each child.