A Conservative government will make it easier for parents adopting children.
Leader Andrew Scheer said his government would introduce adoption leave benefits and boost the Adoption Expense Tax Credit.
Currently, the maximum tax savings a Canadian adoptive family is eligible to receive in 2020 is $2,482. Under a new Conservative government, that same family would receive $3,000, which is an increase of $518.
Following is the full text of the press release:
Andrew Scheer will make it easier for Canadian families to welcome a new child into their home by introducing EI adoption leave benefits for adoptive parents and boosting the Adoption Expense Tax Credit, David Sweet, the Conservative candidate for Flamborough-Glanbrook, announced today.
“Every year, thousands of Canadians adopt a child. By opening their homes and their hearts, these families provide stability, love, and a brighter future for some of the most vulnerable in Canada and around the world,” Sweet said. “Adoption is one of the most selfless things a Canadian can do. At the same time, it can also involve significant investments of time and money. Andrew Scheer will make it easier for Canadians to begin, expand, or complete their family through adoption.”
A new Conservative government will introduce 15 weeks of EI adoption leave benefits for Canadians who adopt a child under the age of 18. A new Conservative government will also amend the Income Tax Act to boost the Adoption Expense Tax Credit to $20,000, and make the tax credit fully refundable.
As a result, those who pay little to no federal income tax will be eligible for up to the maximum amount.
Currently, the maximum tax savings a Canadian adoptive family is eligible to receive in 2020 is $2,482. Under a new Conservative government, that same family will receive $3,000, which is an increase of $518. The tax credit will continue to be indexed as is currently the case.
“Introducing EI adoption leave benefits for adoptive parents and boosting the Adoption Expense Tax Credit are two of the measures a new Conservative government will introduce to help Canadian families get ahead,” Sweet said.
