In the cause of this month of May 2021, families in Germany will receive an additional money for Child support ( Kinderbonus), besides the normal monthly child benefit ( Kindergeld) paid to families as part of its latest Coronavirus financial support package.
The payment to families which will certainly arrive late this month in the bank accounts of parents or guidance who are in charge of collecting Kindergeld, is part of the federal government’s agreement on latest “Coronavirus support package” for children living in Germany who are entitled to child benefit.
According to a draft of the financial aid law, viewed by Handelsblatt newspaper. “For every child that is entitled to child benefit in May 2021, a one-time payment of €150 will be paid out in May 2021.”
The Federal government is expected to cough out a whooping sum of about €2.1 billion for the payment of the Kinderbonus.
The co-leader of the SPD party, Nobert Walter-Borjans, said the idea of the payment was to offer “a bit of help” to those who had suffered financially during the tough lockdown over the past few months.
Last year parents received a payment of €300 per child in two installments, as the state tried to kick start consumer spending after the first lockdown. The first 150 euros was paid out in September 2020, and a second payment of 150 euros followed in October.
As was the case for the previous two child bonus payments, the Kinderbonus will be offset against any tax relief (Kinderfreibetrag) the parents receive. This means that it benefits those on small and medium incomes. It will not be offset against any other social security benefits.
In a bead to tackle this historical task of the Corona virus pandemic, the German government has released a number of economic stimulus packages to prevent any break down in the economic, political, health and social sectors
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