Economy
CSOK housing aid applicants in Hungary total 34,000 in first 5 months
The growing popularity of the programme is demonstrated by a 10% increase in CSOK recipients in November, according to the now complete data for that month, she added.
82% of those awarded the maximum grant of HUF 10 million have committed to adding one or more children to the family unit in the future, Novák emphasised.
The home creation programme will have an unprecedented budget size of HUF 211 billion next year with an option to increase the amount. With that, Hungary will spend nearly twice the OECD average, or 4.7% of GDP, on state aid to families, Novák underlined.
Another component of the CSOK programme is the possibility of recovering VAT on building works done, as well as a lower, preferential VAT rate of 5% instead of the standard 27%, the State Secretary reminded, adding that the former has been utilised by 4,500 families so far at an aggregate value of HUF 19 billion. Tax breaks for those raising two or more children will be further increased in 2017, Novák reminded, resulting in a maximum saving of HUF 60,000 per year to the eligible families. Newlyweds of whom at least one of the pair had not been married before benefit from a tax break of HUF 5,000 per month for two years, including those expecting a baby at the same time. Furthermore, simultaneously with a 15% hike in the minimum wage, the maximum monthly amount of the child benefit is rising to HUF 178,500 from the current 155,400, a significant additional revenue to some 84,000 parents of babies and toddlers.
82% of those awarded the maximum grant of HUF 10 million have committed to adding one or more children to the family unit in the future, Novák emphasised.
The home creation programme will have an unprecedented budget size of HUF 211 billion next year with an option to increase the amount. With that, Hungary will spend nearly twice the OECD average, or 4.7% of GDP, on state aid to families, Novák underlined.
Another component of the CSOK programme is the possibility of recovering VAT on building works done, as well as a lower, preferential VAT rate of 5% instead of the standard 27%, the State Secretary reminded, adding that the former has been utilised by 4,500 families so far at an aggregate value of HUF 19 billion. Tax breaks for those raising two or more children will be further increased in 2017, Novák reminded, resulting in a maximum saving of HUF 60,000 per year to the eligible families. Newlyweds of whom at least one of the pair had not been married before benefit from a tax break of HUF 5,000 per month for two years, including those expecting a baby at the same time. Furthermore, simultaneously with a 15% hike in the minimum wage, the maximum monthly amount of the child benefit is rising to HUF 178,500 from the current 155,400, a significant additional revenue to some 84,000 parents of babies and toddlers.
