child benefit


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Related to child benefit: Child tax credit

child benefit

(in Britain and New Zealand) a regular government payment to the parents of children up to a certain age
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She said: "Topping up child benefit is undoubtedly an extremely effective way to reduce material deprivation for all households that are struggling.
The new child benefits plan was to replace the existing tax benefits given to households with children, but is now expected to be kept for the excluded group.
At the point where a parent earns more than PS60,000, the tax charge is equal to the amount they receive in child benefit.
Child benefit is not part of universal credit and can't be stopped or delayed as part of a benefit sanction - so the Record is convinced topping it up would be the easiest and most effective way to reach the families who really need help.
But a new Royal London policy paper titled the Mothers Missing out on Millions argues the system is not working for new mothers affected by the high income child benefit tax charge.
As of the start of the year there were 4,779 families living outside the State - 4,779 in Poland - claiming child benefit handouts for 7,673 children.
You might therefore want to consider making a pension contribution or gift aid donation up to PS4,000, which would cost PS3,200 initially (net of basic rate tax), but would ultimately only cost PS1,692, after 40% tax relief and the saving in High Income Child Benefit Charge, an effective rate of tax relief overall of over 57%.
He commended this hike suggestion as the best, arguing that the other proposal aiming to raise child benefit up to KD 75 per child will cost KD 127 million.
Aimed at those who earn PS50,000 and above, the High Income Child Benefit Charge was introduced on 7th January 2013 and may already have affected families for the tax year which ends 5th April 2014.
In 1998, the federal government instituted the National Child Benefit, which built on similar programs in British Columbia instituted a few years earlier.
The warning comes from tax specialist Anita Stewart and follows a change in the law that came into effect at the beginning of the year which strips high-earning parents of some or all of their child benefit.

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