The Grand coalition wants to bring in the end of July for 2021 agreed increase in Child benefit to € 15 and for more tax relief in the billions on the way.

Alone in 2021, the discharge volume is expected to reach almost seven billion euros. The "Handelsblatt," citing the draft law "on tax relief for families, as well as for the adjustment of further tax regulations".

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The entire volume of Relief for taxpayers will add up to 42.5 billion euros up to and including 2024. The tax cuts amount to in each of the years

• around seven billion euros of 2021
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tax-free amount increases to 1.1.2021

With the new year, the Federal government lifting the tax-free amount on 9696 Euro, says the report. Currently, he is located at 9408 Euro. The citizens can look forward to an increase of almost 3.1 percent. The basic allowance is adjusted annually, in General, the increase is but small.

In clear text: Who deserves to be in the year 2021 under 9696 Euro, will be spared from paying income tax. Because the basic allowance is equal to the tax-free subsistence minimum.

content check: The gross-to-net calculator 2020 remains So much net them by the gross

numeric example

basic allowance 2020: 9408 €: This amount is completely tax free.

basic allowance 2021: 9696 €: This amount should remain in the coming year, completely tax-free. An Employee saves in comparison to 2020 with an income exactly equal to this amount around 83 € taxes.

Also a high-earner to benefit from tax reduction

Also, for high earners, the tax burden should be reduced. The top tax rate of 42 percent (plus solos), will be 2021 until 57.919 Euro, stated in the "Handelsblatt". Currently, he applies for a taxable income of 57.052 Euro. The result is that Good workers ' pay and no longer have to pay tax on 867 euros with 42 percent, but only with your personal marginal tax rate. The lower the is, the more taxes you will save.

The "rich tax" in the amount of 45 per cent from 2021 until income from 274.613 euros. In the current year, he is already in 270.501 Euro.

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"Cold" Progression will be attenuated

A further Annoyance is to create the system of government in the coming year from the world: it is planning, the so-called cold Progression tackle.

Including tax experts to understand the fact that a content plus that compensates for the Inflation that leads to rising taxes. This is due to the tax progression in Germany: Higher incomes are taxed more heavily. The Employees with a salary, plus, therefore, be punished twice: Both the depreciation of Money, as well as the Treasury nibble on his net income.

this often-criticized mechanism that will adjust the Federal income limits for certain tax rates in the future, in the amount of the respective Inflation to above, writes the "Handelsblatt".

if you add up all the planned tax, then millions of citizens will receive in the coming year, significantly higher net income than in the past. However, in 2021, the Contribution ceiling for social insurance contributions taxes are likely to rise. In the result, just a high-earner to higher contributions to pay into the social security funds - what pushes your net again. Tax return easily with WISO tax:Web create Now WISO tax:Web cheap

state higher paid child support

families are to benefit from a higher net income. The Federal government wanted the children's money 1. January 2021 and by a further 15 Euro per child from lifting. "At the same time, the tax children increases free amount", - stated in the draft law, such as the "Handelsblatt" writes.

the Potential increase in the child allowance in the year 2021, the Federal government, FOCUS Online

parents with higher income tend to use the children's allowance, because he brings them more than the children's money. For you as the Federal Finance Minister has some good news. For 2021, a strong increase is planned, the report says. The increase "will go to the Federal government on the constitutionally Necessary and contribute to the financial strengthening of families", cited the "Handelsblatt" from the bill. This note refers to the annual subsistence report. It specifies the minimum adjustment to the tax-free amounts. Obviously, the Federal government in 2021 want to go beyond that.

The Federal Cabinet wants the law the tax relief measures on may 29. July decide. An important date for all taxpayers.

Finance Minister warns companies to pass on the VAT reduction

the Federal Finance Minister, Olaf Scholz (SPD) urged the company to release on Wednesday, which came into force the VAT reduction on to the customers. Price reductions are now a "moral obligation," said Scholz to the "image"-newspaper. The tax cuts lead to across the Board price cuts, would this also be the customers "don't like".

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There are at least 20 billion euros, "which we take as a taxpayer in the Hand, for this to work with the economy as a whole, well," said the Minister. If everyone waited for what the other four did not revive the economy - then the economic situation could remain for a long time is bad. "We want to break, and therefore everyone must participate in," claimed Scholz.

According to a Tweet from Merz Neubauer, responded: "I'm afraid he has somewhat misunderstood the" FOCUS Online/Wochit After Tweet of Merz counters Neubauer: "I'm afraid he's a little misunderstood," CSU-woman decomposed AfD-request - then pulls out suddenly, a handkerchief, FOCUS Online/Wochit CSU-woman decomposed AfD-request - then pulls out suddenly, a handkerchief

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Date Of Update: 04 July 2020, 11:27