Child’s side job may cause parent to forfeit child benefit
Your child is likely to take on, or start looking for, a side job as soon as he or she has turned 16. Commendable as this most certainly is, there are certain pitfalls to avoid.
It is customary for a parent to receive quarterly child benefit payments until the child in question has turned 18. As soon as the child has turned 16 and has started earning money from a side job, it is important to ensure that his or her earnings should not exceed a particular quarterly maximum in order for the parent not to forfeit the child benefit for that quarter.
The net quarterly maximum for 2017 has been fixed at € 1,265 irrespective of whether the child in question has or has not left home, augmented by an additional € 1,299 in earnings from one or more summer holidays jobs.
If the above has made you worry that your child’s net earnings may have gone “over the limit”, your financial adviser can set you straight. Just get in touch with us and we will happily crunch the numbers for you!
Dutch version: Kinderbijslag mogelijk vervallen door bijbaan kind