Major boost for thousands of Irish families as Working Family Payment income thresholds rise by €10 a week
MORE than 47,000 families will now be entitled to a social allowance after the government raised the €10 threshold.
The tax-free allowance called Working Family Payment was created to provide “additional financial support to families” who are employees with children.
The rate families will receive will depend on the number of children they have and their income.
The Department of Social Welfare said applicants are reassessed every year.
One of the requirements states that anyone applying must work 38 hours or more every fortnight.
Explaining how the allowance is calculated, the Department of Social Care said: “The Working Family Payment you receive is 60% of the difference between your average weekly family income and the income ceiling that applies to your family. .
“Your average family income is your total income minus taxes, employee social security insurance (PRSI), universal payroll tax (USC), superannuation/retirement contributions, and any other family income.”
It comes as parents could receive child benefit much earlier than expected next month.
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The Social Security payment, which is usually paid on the first Tuesday of the month, could fall into bank accounts sooner.
But when the Monday before the benefit is due is a public holiday, people are sometimes paid earlier than expected.
The monthly figure is officially due on Tuesday May 3 but some parents could receive payment as early as Friday April 29 or Saturday April 30.
The €140 monthly allowance is not subject to tax and is a universal payment unaffected by a person’s income level.
Parents or guardians with children under the age of 16 or between the ages of 16 and 17 who are in full-time education or training or who have a disability and cannot support themselves are eligible.