This is what the Corona child bonus means for your tax return

2021-07-28T15:08:28.132Z

Many families were happy about a child bonus this year too. But what does the bonus actually mean for the tax? Experts know what to do.

Many families were happy about a child bonus this year too.

But what does the bonus actually mean for the tax?

Experts know what to do.

Many families also received a

child bonus *

in the Corona year 2021

This time it was 150 euros per child (and last year 300 euros) - a bonus to support the corona pandemic, which was paid to families entitled to child benefit.

What does this mean for the

2020 tax return

the

return

for the

following year

Child bonus is tax-free, but must be stated

The child bonus does not represent a taxable income, described the German press agency (dpa); However, like child benefit, it must be entered in the child appendix to the

tax return

. Because in the income tax assessment, the child bonus is offset together with the child benefit in the cheaper check by the tax office. The child bonus is

offset against

the

child allowance

, but not counted towards the basic security. This should benefit low earners more. Families with higher incomes, on the other hand, would have less from the Corona child bonus: Higher earners usually benefit from the child allowance - and the bonus is offset against this.

Also read:

Children's leisure bonus: This is how much money there will be for families from August - is an application necessary?

Tax: Child bonus possibly with consequences

This is how the tax exemptions come into play, according to Stiftung Warentest:

The tax office only checks in the tax return whether child benefit plus child bonus or the tax exemptions are cheaper

"If you save more taxes with these, child benefit and bonus will be deducted from your benefit,"

Test.de

described

in an article.

Only the rest have a tax-reducing effect, "so that you don't benefit twice".

Higher earners would lose part or all of the child bonus again.

What does this mean for the 2020 tax return?

Since parents received child benefit and child bonus in 2020, both items are now offset against the tax allowances, explains Stiftung Warentest.

Depending on the income, it can happen that the parents do not benefit from the exemptions as usual.

"For example, parents with one child whose taxable annual income is over 67,800 euros (single parents: 33,900 euros) forfeit the bonus, at least in part or in full, because they now save less tax than usual," the

test continues. de