A new Conservative government will also boost the Adoption Expense Tax Credit
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.
ANDREW SCHEER’S PLAN FOR YOU TO GET AHEAD:
- Scrap the Trudeau Carbon Tax, lowering the cost of everyday essentials like gas, groceries, and home heating.
- Introduce the Universal Tax Cut, saving an average couple $850.
- Take the GST off home heating costs, saving your family $107 every year.
- Introduce the Green Public Transit Tax Credit, saving a family of four who take transit up to $1,000.
- Make maternity benefits tax-free, putting up to $4,000 back in the pockets of new parents.
- Introduce the Children’s Fitness Tax Credit, allowing parents to claim up to $1,000 for sports activities.
- Introduce the Children’s Arts and Learning Tax Credit, letting parents claim up to $500 for arts and learning programs.
- Expand the Age Credit, benefiting the lowest income Canadians the most and giving a senior couple up to $300.
- Boost government-matching to RESPs by 50%, helping parents get more for their kids’ education.
- Introduce the Green Home Renovation Tax Credit, putting up to $3,800 back in the pockets of Canadians for green home improvements.