The government has already put together various aid packages, so that people can lose track. If you want to know how much he has been relieved of in total, you can easily calculate that now. The Ministry of Finance has put a relief calculator online that shows the most important reliefs. These include the family allowance, the reduction of tax brackets, the regional climate allowance and the anti-inflation allowance.
Much of the deduction came from the reduction of the first bracket of income tax. This path is continued by now lowering the second and third levels as well. Specifically, in July 2022, the tax rate for incomes between 18,000 and 31,000 euros per year was reduced from 35 to 30 percent in the second phase. For incomes between 31,000 and 60,000 euros, the tax rate falls from 42 to 40 percent. The cold progression will also be abolished next year. Until now, taxpayers were liable for tax from an income limit of 11,000 euros – next year this limit will be 11,693 euros. For example, all tariff levels will rise in line with the inflation value in the coming years.
Different measures for families
Various measures have been taken for families. The Family Bonus Plus has been increased from 1500 to 2000 euros and the extra amount for children from 450 to 550 euros. In addition, a one-off special child benefit of 180 euros per child is paid. That is a doubling of the child benefit in August, the money was automatically deposited into the account.
Click here for the relief calculator: www.bmf.gv.at/entlastungsrechner
“The wave of relief started in the summer with the payment of the extra child support and is continuing in many measures that are now coming into effect. In this online calculator everyone can calculate the amounts they will be redeemed and the effects of inflation are mitigated,” Chancellor Karl Nehammer (ÖVP) said in a broadcast on Friday.
“Inflation as a major burden”
Finance Minister Magnus Brunner (ÖVP) added that the “current inflation rates are a major burden on the population” and that politicians cannot afford not to help now. “Taxpayers can calculate their personal reduction with the Treasury Department’s abatement calculator,” says Brunner.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
