When will Austria make the €500 anti-inflation payment and how do I get it?
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Loading... - Leon Muller
- 14 Sep 2022
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Austria has recorded rising inflation and as economists believe the country will have double-digit inflation in the coming months, the federal government scrambles to find solutions to cushion the impact on the public.
In July, the inflation rate was already at 9.2 percent due to an ongoing increase in energy prices. To counter or at least cushion the effects of the rising cost of living (especially since essential items have soared in price), the Austrian federal government unveiled a €6 billion package with financial measures and several social payments, as The Local reported.
The most significant one-off payment will be a €500 “climate and anti-inflation bonus” (the Klima- und Antiteuerungsbonus), which the government announced would be paid out to millions of people in Austria in October. However it has since decided to bring forward the payments to September.
What is the Klimabonus payment?
The bonus payment is actually two bonuses together. One, totalling €250, is the “climate bonus”(Klimabonus). The other, also €250, is the “anti-inflation bonus” (Anti-Teuerungsbonus).
The climate bonus is part of Austria’s “ecosocial tax reform”, a set of measures destined to promote climate protection. One of them is a tax on CO2, which will be offset by the climate bonus for Austrian residents.
It’s not a simple measure. On October 1st, a new CO2 tax will come into force in Austria in the hope of cutting emissions?
Consumers, especially motorists, will feel it because the tax will result in an increase in fuel prices.
However, the money raised with this tax will be reverted to Austrians via the so-called Klimabonus. The idea is that the more you use public transport, the more of the bonus you will have “left” by the end of the month.
In 2022, the climate bonus will be €250 for all people in Austria (more on this below) to account for rising inflation. However, in the coming years, the yearly bonus amount will depend on where in Austria you live. Read More...
