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300 euros in installments - when and how is the child bonus paid?

2020-06-17T08:59:08.798Z


Millions of families in Germany can be happy: Because of the Corona crisis, families with children should receive financial support. When and how does the children's bonus come?


Millions of families in Germany can be happy: Because of the Corona crisis, families with children should receive financial support. When and how does the children's bonus come?

  • Because of the Corona crisis, families with children should receive financial support.
  • The coalition leaders have agreed on this - the measure is part of an economic program worth billions.
  • A so-called children's bonus is planned , with a one-off payment of 300 euros per child.

Update from June 12, 2020: Kabinett wants to decide on children's bonus

On Friday, the federal government plans to launch  new measures to alleviate the corona crisis . It has to be quick - because some measures are to take effect as early as July 1st . The planned  children's bonus is also an issue. For example, families should get a supplement to child benefit in the next month . A bonus of 300 euros per child is planned - and this should come in three installments. The subsidy is included in the income tax with the child allowancesoffset, but not counted towards the basic security, as reported by the German Press Agency (dpa). As a result, low-wage earners benefit more from the Corona bonus than high-wage earners. The higher the parents' income, the less there is left of the extra payment after the tax return *.

According to dpa, the 300 euros only remain in full if married parents with a child have no more than 67,800 euros in annual income. From an income of around € 85,900, these parents no longer have anything to do with the children's bonus.

After the cabinet decision on Friday, special meetings of the Bundestag and Bundesrat are planned.

Update from June 9th, 2020: 300 euros extra per child - who benefits above all from it

Families with children should receive financial support according to the plans of the federal government with the so-called  child bonus . " 300 euros per child are expected to be paid in three installments. The benefit is to be linked to child benefit , which then increases three times by 100 euros per month," writes ntv.de. The extra 300 euros per child will therefore be offset against the child tax allowances in the income tax. That means: Not all parents benefit equally from the additional benefit, as Uwe Rauhöft from the Bundesverband Lohnsteuerhilfevereine (BVL) explains according to the portal.

Parents with lower incomes can look forward to : "Unmarried parents benefit in full from the children's bonus up to an income of around EUR 33,900", Rauhöft calculated. "Married parents benefit up to an income limit of EUR 67,800."

If parents earned more, reports ntv.de, the child tax allowances through the income tax assessment would normally provide more relief than the child benefit paid during the year. For 2020, however, these parents will mostly continue to receive child benefits including child bonuses.

"Only from an income of more than 85,900 euros, the allowances for 2020 will have tax relief beyond child benefit," said Rauhöft, according to the portal. For unmarried parents, this limit is 42,950 euros, the portal writes.

"From this income, the child bonus initially paid will be offset against the income tax return * 2020 ," the expert is quoted there. "As a result, the proposed bonus will only benefit low and middle income parents."

Read here : More money for families in the corona crisis: Know the emergency child supplement

Update from 5.6.2020: How the children's bonus is paid to families

In the Corona crisis, families with children should receive the so-called child bonus. How is it paid out and who can expect what? Families are expected to receive the planned child bonus of EUR 300 per child in three installments in the next few months, as reported by the German Press Agency (dpa) on Thursday. Minister of Family Franziska Giffey has  announced the first details .

The money therefore comes along with the monthly child benefit payment , as dpa reported on Thursday. "Then the bank statement for the child benefit payment would not be the 204 euros, but 304 euros over three months," said the SPD politician. According to the report, it was still unclear whether the first money would be transferred in July or later. One thing is certain: families with high incomes do not benefit. For a couple with one child, she believes that up to a taxable income of $ 90,000, these families still benefit from the child bonus, Giffey said, according to the report.

Here are more details on the Corona economic stimulus package *.

Children's bonus: families should know that

"The child bonus is socially equitable," said Giffey, according to the report. High earners would not be disadvantaged. Families with small and medium incomes would be strengthened. The 300 euros extra per child should therefore not count towards Hartz IV benefits . In the case of tax , however, they are offset against the child allowances . For high incomes, this means that in the end they have nothing of the special payment, reports dpa.

This is the background: the state pays child benefit on application until the children are 18 or until they have finished their education. At the same time, there are so-called child tax allowances for parents (2019: EUR 7,620 per child). These are deducted from taxable income, which reduces the tax payable. The tax office then automatically checks the tax return to determine whether the parents have more of the child benefit or more of the allowance. The exemption is more worthwhile for high earners. If child benefit has nevertheless been paid out, it will be collected again via the tax. Something similar should also be done with the children's bonus , as dpa reported on Thursday.

Also read : Tax return 2019: These items bring you a lot of money back from the state

Update from 4.6.2020: Children's bonus for families planned

The coalition leaders have agreed on an economic package worth billions in the fight against the consequences of the corona crisis . Among other things, a child bonus is planned , which provides for families to receive money from the state because of the Corona crisis - specifically, a one-off payment of 300 euros per child is planned, as Spiegel Online reports. The bonus should be paid out with child benefit , it says there.

Read here: Wage replacement payment for parents is extended

Update from 3.6.2020: coalition continues to advise on economic stimulus package

The coalition negotiations on the multi-billion euro stimulus package continue on Wednesday. A possible family  bonus had also been discussed in advance - however, nothing was decided on June 2. Chancellor Angela Merkel (CDU) and the top representatives of the SPD, CDU and CSU wanted to continue their meeting this Wednesday.

Read also: Coalition leaders agree to cut VAT in the Corona crisis

Article from 2.6.2020: Family bonus in discussion - 300 euros per child?

The coalition advises over a billion dollar injection for the economy . The leaders of the black-red coalition want to adopt a package worth billions to boost the economy in the Corona crisis * on June 2.

In conversation: a so-called  family bonus . For example, this could mean a one-off payment of 300 euros per child to support families in crisis and to boost consumption. The SPD is particularly committed to such a bonus. But some Union politicians have shown sympathy for this.

It could be discussed whether such a bonus should really be distributed to all families or only to families in need.

Read here: Corona short-time work allowance: innovation decided - this applies to employees and the self-employed

Is the family bonus coming in 2020? What critics say

Meanwhile, BR Online reported that while many in the Union were having a great stomachache with the performance, the SPD wanted to pay the money to all families. According to this, some experts also consider the family bonus to be wrong; Background: One reason for the discussed family bonus was, as BR Online also reports, that parents could use the money to buy tablets or other devices for home-cooling of their children.

Working parents have a particularly hard time in the Corona crisis *. That is why they should also be relieved, for example, through wage replacement payments *.

Sources: BR Online, dpa

Also interesting : higher pensions: There will be so much money from summer 2020 - when the increased pension will be paid

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* Merkur.de is part of the nationwide central Ippen editorial network.

List of rubric lists: © Jens Büttner / dpa-Zentralbild / dpa

Source: merkur

All life articles on 2020-06-17

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