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:
SUPPORTING DOCUMENTS:
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Andrew Scheer will introduce EI leave benefits for adoptive parents