Next year’s Family Ministry budget will be its highest ever – at €8.7 billion, with big increases to tax allowances for families to start up in the 2024 tax year.
Although the precise numbers still have to be worked out, Family Minister Susanne Raab says funds for family allowances will increase to about €433 million, with child benefit budgets rising by €118 million.
Raab announced that parents will likely receive another €212 per child under three years of age, per year.
One of the biggest new changes though, will be the family bonus for fathers who take parental leave. The family bonus given out during months where both parents are home from work with their children will double – from €740 to €1,480.
Depending on the individual circumstances of each family, up to €2,000 more per year could end up becoming available to the average family in the form of both benefits and tax credits.
The new family budget will also include and additional €53 million in free travel for students and apprentices and €1 million further to be donated to various child protection projects.
EXPLAINED: What you need to know about parental leave in Austria
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