Inflation compensation of 60 thousand TL for all of Germany
In Germany, which is often on the agenda with the claim that “Germany is jealous of us” in Turkey, the government began rolling out support aids to its citizens with the new year.
By 2023, Germany will provide more and more financial support to its people every day. To alleviate the effects of both the crisis and inflation, public spending was completely cut. Both the prime minister and the ministers take turns using a plane. Private or business meetings are definitely not taken on a government plane. There is only one plane that belongs to the Presidency and is used sequentially.
Except for the president, prime minister and ministers, no one owns a “special service vehicle” or an armored Mercedes. Employees will receive compensation for inflation. With the new year, it brought new financial support, new increases in inflation protection (compensation) and new tax reductions for everyone living legally in Germany.
HERE IS GERMANY’S PLAN AGAINST INFLATION
CITIZEN MONEY: The citizen benefit paid by a family member of an unemployed person was increased to 502 euros (approximately 10,000 TL). A family with two children under the age of 18 will receive a net profit of 1,400 euros (28,000 TL). In addition, they will be granted a child benefit of 500 euros (approximately 10,000 TL). The rent will increase to 2,500 euros (50,000 TL) per month with help for fuel and fiscal support for radio and television. In addition, all newcomers to the country, Ukrainian-Syrian-Afghans, will benefit from this aid.
INFLATION COMPENSATION: Germany will pay inflation compensation to its citizens. According to the law published in the Official Gazette on October 25, 2022, from October 1, 2022, employers will pay their employees up to 3,000 euros (approximately 60,000 TL) for inflation compensation. This requires an agreement between the employer and the employee. Payment may be made in full or in installments until December 31, 2024. Payment will be tax-free and socially uninterrupted. The employer can deduct it from the tax. The pay slip must clearly state that this money is “inflationary compensation” (Inflatationsausgleichsprämie).
CHILD’S MONEY: The child benefit paid to each family, regardless of income, was increased to 250 euros (5,000 TL). This resulted in an increase of 31 euros for each child. The child allowance is paid until the completion of university and postgraduate studies. In other words, up to the age of 25, this money is deposited in the family or child’s account.
RESIDENTIAL MONEY: So far, the basic support for the lowest paid tenants has been increased from 190 euros to 370 euros. Those who are in this situation will receive 370 euros of “income and residence support” each month through the application. The state already pays the “full rent” for those who have no income or who work small jobs and earn up to 520 euros a month.
TAX DISCOUNT: Taxable profit rates have been reduced. With the discount, there will be a relief of approximately 1700 euros in the annual income of a person. The annual taxable income rate of 42 percent was increased from 58,587 euros to 62,827 euros. In 2024, this figure will be 66,779 euros. The change will be automatically reflected in the payroll.
Tax-free annual earnings amounted to 10,908 euros.
ENERGY SUPPORT: A ceiling was placed on energy prices that rose due to the war. Consequently, starting in March, the price of electricity for 80 percent of consumption will not exceed 40 cents. For gas, this figure will be a maximum of 12 cents. If the prices of electricity and gas rise, the State will pay the difference and the consumer will be protected.
ADDITIONAL SUPPORT FOR RETIREES: 300 euros of “energy and inflation” protection money was paid to every pensioner residing in Germany. In addition, pensions were increased by an average of 4 percent in euros. For those who are retired but unable to pay rent on their home and earn a living, social benefits continue to increase at specified rates. The state pays the rent for the house of the pensioner who cannot pay his rent.