The KindKompas, is a tool that allows you to calculate how expensive it is to raise children, is currently receiving a software update. Now, the calculator displays in addition to the costs of the ‘benefits’, because in every child there is an growth package, you’ll pay less in income tax and property tax, and you may be entitled to a student grant.
The KindKompas is a joint initiative of MyFamily, which is one of the four recognized Flemish uitbetalers of a growth package, which used to be family allowance, it was called. The first version of the tool that was launched last year, and it showed just how much a child actually costs. With the new version, you’ll also get an overview of the tax benefits that your child will receive. The growth package is the most important pillar, but also reduce the personal income tax for low-income families, and for older children, is the scholarships, is a nice extra to the family budget.
“It is very difficult to make a general example, to provide the financial resources for a family get, because there are so many things tied up,” explains Toon Vanheukelom, a researcher at the catholic university of Leuven, belgium, from the. “With this in mind, it is KindKompas also take into account different elements.” Think of it as the exact income, the ages of the children, and so on. “When you have completed the KindKompas the cost and the benefits to which you are entitled to on the map.”
“and The interesting thing is that, with just a few clicks to a different family you can simulate,” says Céline Englebert from MyFamily to. “Come on then. We got to work with the tool (see below) and is presented in a voorbeeldgezin of two working parents and three children at the same time. Then we went on to assess the financial impact of a fourth child would be like. Strangely enough, involves the family more, of its revenue, is primarily due to the growth package, and the reduction of the personal income tax.
for example, If a parent decides to stop working and go suddenly, and the expenses incurred for the child.
finally, we went to see what the consequences would be if one parent decides to stop working. Curiously, in these calculations it drops suddenly, and the kindkost of money that goes directly to the child, such as expenses for food, clothing, toys, etc.). “That’s because you have to adapt to a smaller household budget”, explains Englebert of. “We have a formula for the KU Leuven, has devised, on the basis of the results of our research to all types of families.” That is also true for the gezinskost (expenditure, in order to have a family to house, including energy and water), and the tijdkost (the number of hours that you and your child are working on, multiplied by your hourly rate).
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