will my parents now be required to pay more tax?

That depends on how much you earn. If you earn more than a certain amount per year then you are no longer considered to be “dependent” on your parents. They receive a tax reduction for each child considered to be financially dependent.

when do I remain dependent on my parents?

If you work as a student in 2020, then you remain financially dependent on your parents…

  • …if you are still part of the family in January 2021. That means that you must still be living with your parents. Are you in student accommodation or somewhere else due to illness? In that case you are also still considered to be living at home;
  • …if your net taxable income in 2020is a maximum of 3,380 euros. For students with a single parent this is a maximum of 4,880 euros.

 

Find out more?

About dependent students (FPS Finance)

About net basic income (via FPS Finance)

About tax declarations (FPS Finance)