Family allowances: the government formalizes the new amounts that will be received from this month

The national government has formalized the income cap equalization measure to receive the Family assignments with the floor Income tax. In this way, more than 900,000 children and adolescents will be affected by the benefit.

By Decree 101/2023, published in Official Bulletinthe national executive ordered that the income ceiling applicable to holders of this benefit be increased from 158,366 pesos to 404,000 pesos, the non-taxable minimum of the profit regime.

With regard to the family ceiling, the national government has set this figure at what results from “doubling the maximum individual income ceiling provided” by the Income Tax Act.

This measure came into force from this month, but it has a permanent character, that is to say that as the floor for which the tax begins to be updated is updated, the ceiling of those who receive family allowances will be updated.

The decree also specifies that the persons concerned by the tax “have the right to deduct their family responsibilities of their net income, as long as they are resident in the country, are the responsibility of the taxpayer and have no net income in the year above the limit established by the tax legislation”.

The amount of the allowance received by each dependent worker decreases as the income of the Family Group increases, a figure known as the IGF. With the modification of the cap, the allocations will be as follows:

– Those who receive income Rank Ii.e. those up to $177,554 will charge $11,465.

– People with a salary between $177,554 and $260,404 are included in the Rank II and they will receive an allowance of $7,732 per month.

– For people whose income is between $260,403 and $300,645, the amount of the allowance will be $4,675 per month.

– Income belonging to the Rank IVor between $300,645 and $808,125, they will receive an allowance of $2,410.

By this decree, the Government has only formalized the announcement made by the Minister of the Economy, Sergio Massawith the owner of National Social Security Administration (CONSIDERED), fernanda ravertaFebruary 16.

On this occasion, Massa underlined: “It is very important that we have strength in the social security systemsince this measure plans to benefit more than 600,000 workers Argentinians. Thus, the missions affect a total of 2.9 million employees.

You may be interested: How much will teacher and university student pensions increase from March

“Argentina is going through a huge challenge. On the one hand, to recover income and, on the other hand, to guarantee macroeconomic stability. Both are important to guarantee a challenge that we have as a government, which is the recovery of income in Argentina and the improvement of its distribution,” said the head of the economic portfolio.

This decision presupposes a budgetary effort of approximately 4 billion pesos per month, as specified during the presentation of the new measure by ANSES.

After this modification, the allowances will reach 900,000 new children and adolescents, the total coverage of this program has therefore been extended to 4.4 million minors.

According to ANSES data, in the Province of Buenos Aires 384,441 children will start receiving the benefit; In Catamarca 4,434 wills; In chaco, 6555; In chubut, 20,259; in the Autonomous City of Buenos Aires (CABA), 94,526; In Cordoba, 72,556; In currents, 7476; In Between rivers, 15,157; In Formosa2.844.

From Jujuy, 7,196 boys will be incorporated; For the pampas, 5272; For La Rioja, 3289; For Mendoza, 30,705; For Tasks, 10,030; For Neuquen, 25,752; For Black River, 20,471; For Salta, 16,410; For Saint Jean, 12,975; For San Luis, 9442; For Holy Cross, 14,924; For Santa Fe, 70,868; For Santiago del Estero, 4437; For Land of Fire, 8109; and for Tucuman17.277.

Continue reading: