The first pay slip of 2023 will be arriving soon and that is good news: in principle, every employee will benefit. Experts explain what is different about this new pay slip and why you will probably receive more money in your bank account next year.
Employees who did not change jobs in January, continued to work the same number of hours and did not receive a salary increase, will not see a different gross salary on the January payslip. That has remained exactly the same as in December. On the other hand, the net wage in January 2023 will be considerably higher than in December 2022.
“This is because the tax rate in the first bracket will go down from January,” says Joke van der Velpen, manager of legislation and regulations at Visma Raet. “In addition, the employed person’s tax credit will increase. You will therefore receive a discount on the tax you pay, so that less will be paid. Your final net salary will therefore be higher.”
In some cases this can amount to a few tens, says Remy Munten, owner of HetSalarisKantoor. “Of course it depends on how high your salary is, but with a single average income it can already make a difference of 80 or 90 euros per month.”
Travel expenses and homework allowances are going up
Even when it comes to smaller allowances, employees often benefit. Consider, for example, the travel allowance. “This fee has gone from 0.19 cents to 0.21 cents,” says Van der Velpen. “The employer may reimburse this tax-free. But beware, the employer is not obliged to pay this extra 2 cents. So if you still receive 0.19 cents, you cannot enforce that extra few cents.”
Munten advises to look up what you are entitled to in the employment contract. You can also look up the status of the homework allowance. “Employers may increase this amount to 2.15 euros per day, but are not obliged to do so. So you may still receive 2 euros.”
People’s purchasing power hardly improves with these changes, but every little bit helps.
“The opposite also happens: in some collective labor agreements, the allowance has been increased to 3 euros. That extra 85 cents will probably be put away under the work-related costs scheme. But again, this is not an employee’s right. You cannot force such an increase,” adds Van der Velpen to it.
The minimum wage is also going up
The minimum wage has been legally increased as of January. “That goes up by 10 percent,” says Van der Velpen. “The employer is obliged to implement this increase.”
In 2024, there will probably be even more changes for employees who receive the minimum wage. “Now it is the case that everyone earns 1,934.40 euros gross. It does not matter whether you work 36, 38 or 40 hours a week. Everyone receives the same amount at the end of the month.” According to Van der Velpen, this is very unfair, because someone with a 36-hour contract works 4 hours less per week than a colleague who works 40-hour weeks.
“The minimum wage will therefore be adjusted to an hourly wage from 2024. Someone who then works 40 hours a week will receive a higher salary than someone who works 36 hours.”
Every bit helps
Finally, some of the gross salary always goes to the pension funds. Employees will have to pay less pension contributions in 2023. “The amount that is transferred to the funds is therefore lower, so that you have more salary at the bottom.”
However, all these amounts will probably not keep up with inflation and higher energy costs, Munten expects. “That is almost impossible. People’s purchasing power is hardly improving with these changes, but every little bit helps.”
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