Israel Advances Holiday Financial Aid Payments to Citizens
Translated & summarized from Cursorinfo by baba
Israel's Tax Authority is advancing over 260 million shekels in financial aid payments to 130,000 citizens ahead of the holiday season. The "work grant" aims to help low-income workers and families manage expenses, with applications for the 2025 tax year open until the end of 2027.
The story in 6 lines · by baba
- Israel advances 260 million shekels in financial aid.
- Payments are for the 2025 "work grant" (negative income tax).
- 130,000 citizens to receive funds directly in bank accounts.
- Aid aims to help with holiday expenses and stimulate employment.
- Eligibility based on income, age, and family status.
- Applications for 2025 are open until the end of 2027.
Israel's Tax Authority will disburse over 260 million shekels in the second phase of its "work grant" (negative income tax) for 2025, ahead of the autumn holiday season. The funds, intended to help families and workers manage increased expenses and stimulate employment, will be directly deposited into the bank accounts of 130,000 eligible citizens. This early disbursement is a month ahead of the legal deadline.
The grant, which can amount to several thousand shekels annually based on individual financial and family circumstances, is available to salaried employees and self-employed individuals aged 21 and over with children, as well as those aged 55 and older, regardless of whether they have children. Eligibility is determined by low-income criteria set by the Tax Authority.
Individuals who own an investment property in addition to their primary residence, or whose spouse does, are not eligible for the grant. The final payment amount is calculated individually, considering factors such as spousal income, age, and the number of children.
Applications for the 2025 tax year grant can be submitted online through the Tax Authority's website until the end of 2027. Applications for the 2024 tax year are due by December 31, 2026.
