Thus, the Executive Branch established that the benefit will apply to family allowances whose payment is made as of this month.
In addition, it provided that the maximum income limit is raised applicable to people holders of allotments from $158,366 to $404,000, which is the non-taxable minimum of Earnings.
According to the provisions, this decision is of a permanent nature, for which reason As the non-taxable minimum is updated, the same will happen with the Family Allowances ceiling..
The decree clarified that Those who are reached by Earnings “have the right to deduct their family expenses from their net earningsas long as they are residents in the country, are in charge of the taxpayer and do not have net income in the year above the limit there established by the tax legislation”.
On the other hand, the Secretary of Social Security of the Ministry of Labor was authorized to issue the explanatory and complementary regulations necessary for the implementation of the measure.
The Government justified the DNU by stating that “there are hundreds of thousands of workers and workers withn Dependent sons and daughters whose income is between the maximum individual income limit, currently $158,366, and the amount from which Gains must be taxed”.
“The situation affects the income of the households of workers and workers, and also alters the conditions of access to the right to social security for children and adolescents,” he added.
Consequently, it stressed that this measure “is of a urgent, since this situation means that a large number of families do not see the impact on their income of the accompaniment that the State guarantees to children and adolescents in our country, either due to the coverage of the Family Allowance Regime or the deduction mechanisms”.
How are the caps
For families with income up to $177,554 (Range I), the allowance will be $11,465 monthly.
If income is between $177,554 and $260,403 (Rank II), the allowance will be $7,732 monthly.
For those who have income between $260,403 and $300,645 (Rank III), the allowance will become $4,675 monthly.
For income between $300,645 and $808,124 (Rank IV), the assignment will be $2,410 monthly.
Source: Ambito
