The bonus for “working mothers”, included in the budget law approved by the Senate a few days ago, will come into effect in January 2024 and will be reviewed by the Parliament on December 28. The bonus is valid for public or private sector employees who have at least two children and work permanently, even part-time. Self-employed professionals, fixed-term employees and all employees with only children are therefore excluded.
The measure provides for a 100% reduction in social security contributions, with a maximum threshold of 3 thousand euros, until the month in which the youngest child turns eighteen. The bonus will be valid until December 31, 2026 for mothers with three children, and until 2024 for mothers with two children.
You do not need to make any application to benefit from tax exemption. The way the bonus works is much simpler than you think. In fact, female workers are exempt from paying social security premiums, which are generally around 9 percent of their gross annual salaries. It should also be taken into account that exemption from contributions necessarily leads to an increase in taxable income and therefore a small increase in taxes.
What will be the tax advantage?
In any case, the balance for working mothers will be positive, and from January 1, workers with more than two children will find extra money in their salaries. Altroconsumption It is estimated that with an annual gross salary of 10 thousand euros, the tax advantage will be 21 euros net per month. While your salary is 33 thousand euros with a gross salary of 20 thousand euros, this figure rises to 47 for those with an income of 25 thousand euros. And again: with an income of 30 thousand euros there will be a net increase of 65 euros per month, and with 35 thousand euros there will be a net increase of 73 euros. Above this threshold the tax benefit will always equal 32 euros per month.
Mass
In the technical report on the 2024 budget law, it is estimated that approximately 800 thousand women will be affected by this measure. In the private sector, the number of working mothers with two children, one under the age of 10, is around 571 thousand, and the number of mothers with three or more children, one of whom is underage, is around 111 thousand. To these, mothers working in the public sector, which correspond to one fifth of mothers working in the private sector, should also be added.
Source: Today IT
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
