Here’s when parents in Germany will receive a one-off €150 ‘Kinderbonus’ payment

Here's when parents in Germany will receive a one-off €150 'Kinderbonus' payment
Photo: DPA
As part of its latest coronavirus financial support package, the German government announced that families would receive a one-off payment of €150 per child.

The payment to families will arrive in May, according to a draft of the financial aid law, viewed by Handelsblatt newspaper.

“For every child that is entitled to child benefit in May 2021, a one-time payment of €150 will be paid out in May 2021,” the draft law states.

The cost of the Kinderbonus to the federal government will come to roughly €2.1 billion.

Last year parents received a payment of €300 per child in two instalments, as the state tried to kick start consumer spending after the first lockdown.

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Families with small and medium incomes are to benefit, as the payment will not be offset against other family or social benefits – but it will be offset against parents who receive tax relief (Kinderfreibetrag).

The grand coalition – made up of Angela Merkel's Christian Democrats, the CDU's Bavarian sister party the Christian Social Union and the Social Democrats – agreed last Wednesday to provide billions in support for families, low-income earners, businesses, plus the hospitality and culture industries.

READ ALSO: Here's how Germany's Kinderbonus boosted economy in pandemic

“We have achieved a lot for families, for people with a difficult income situation, but also for tradespeople and the catering industry,” said SPD co-leader Norbert Walter-Borjans.

The most important thing is for Germany to offer “a bit of help” to people who had come under pressure during the tough shutdown, he added.

READ MORE: How Germany plans to support families and businesses in the pandemic

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