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Effects of the planned abolition of tax classes 3/5
Experts warn of the consequences for families of the abolition of tax class 3/5. Find out how the reform could impact millions of couples. #TaxReform #FamilyFinances
Effects of the planned abolition of tax classes 3/5
The planned abolition of tax classes 3 and 5 in Germany could have far-reaching consequences for millions of couples and families, experts warn. Currently, married couples have the opportunity to choose between different tax brackets, including the 3/5 tax bracket combination, which can offer financial advantages. However, the federal government plans to restrict this option, which would result in couples potentially having less household budget, although the overall tax burden would remain unchanged.
The tax classes in Germany are divided according to various criteria such as family status and income. Couples who choose tax class 3/5 pay different tax rates, which means that they have more net than gross each month. The planned elimination of this combination could cause families to face challenges in meeting their financial obligations.
The reform aims to create social aspects and greater justice, particularly with regard to economic equality for women. By abolishing tax classes 3/5, the lower-earning part of a couple, often the woman, would be relieved of the financial burden. The government hopes this could lead to more women entering the workforce or increasing their working hours, which could ultimately contribute to greater equality in society.