PRIME Minister Stephen Harper on Thursday announced that a re-elected Conservative government would help make it more affordable for Canadian parents to adopt children by significantly increasing the value of the Adoption Expense Tax Credit and making it fully refundable.
“Our Conservative government believes that there is no higher calling than that of raising a child, and no greater reward,” Harper said. “We have a proven record of helping make life more affordable for Canadian families, particularly when it comes to managing some of the additional costs borne by adoptive parents.”
The Adoption Expense Tax Credit is a 15-percent non-refundable tax credit designed to defray the costs associated with adoption. The Harper Government enhanced the credit in 2013 to make more expenses eligible and, in 2014, increased the maximum amount of the credit to $15,000, indexed to inflation. A re-elected Conservative government will increase the value of the Adoption Expense Tax Credit further, raising the maximum amount to $20,000, and make the credit fully refundable.
“Every year, thousands of Canadian families are transformed as they bring adopted children into their hearts and lives,” said Harper. “We recognize that adoption costs can be high and, in some cases, prohibitive for families. That’s why a re-elected Conservative government will increase the support available to these caring Canadians.”
He noted that, in addition to the support adoptive parents receive from the Adoption Expense Tax Credit, the Conservative government has a strong record of helping make life more affordable for Canadian families through benefits like the enhanced Universal Child Care Benefit, the Family Tax Cut, and Tax-Free Savings Accounts, among others.
“All Canadian families with children aged 17 and under, including those who adopt, have benefitted under our low-tax plan,” said Harper. “We will continue our proven record of helping Canadian families in ways that tangibly improve their lives.”
“While Justin Trudeau and Thomas Mulcair plan to increase taxes on Canadians and launch large, new government programs, we have a low-tax plan to help and support Canadian families,” said Harper.