This is what families spent their tax-return on

By: Trademagazin Date: 2022. 08. 01. 11:28

At the beginning of this year, parents of children received a refund of the amount of personal income tax for the previous year. The affected households received different amounts, according to K&H’s Secure Future survey, the families eligible for reimbursement received an extra income of HUF 596,000 on average, the financial institution announced.

20 percent of them received less than HUF 250,000, while 3 percent – both parents together – received more than HUF 1.5 million. 33 percent of the refund goes to everyday expenses, another 33 percent increases savings, 14 percent is spent on debt or loan repayment, and the remaining 20 percent is spent on entertainment and travel.

Families with children were able to start this year with significant extra money, as they received back the amount of personal income tax for last year, a maximum of HUF 809,000 per eligible person – according to K&H’s second-quarter secure future index, which describes how much parents in the 30-59 age group amount they received and what the extra income was spent on.