Tories pledge help for adoptive parents with extra EI leave, expanded tax credit

Click to play video: 'Money123: What the parties are promising parents' Money123: What the parties are promising parents
Political parties are targeting families with their campaign promises, vowing to help parents cover the increasing cost of raising children. Online reporter Erica Alini reviews some of the parties' proposed benefits and tax credits in this edition of Money123 – Sep 28, 2019

OTTAWA – The federal Conservatives are promising to provide more paid time off and an expanded tax credit for adopting parents.

As it stands, parents who adopt children receive 35 weeks of leave through the employment insurance system, compared to an additional 15 weeks of maternity leave for new mothers.

READ MORE: In an election focused on families, an ‘implicit tax’ on parents is under the radar

The Tories are promising that a Conservative government would give parents who adopt children under the age of 18 an extra 15 weeks of EI-funded leave to provide a full year off.

The Liberals made a similar pledge last month.

READ MORE: Grits, Tories both promise to make parental leave tax-free. Who has the better offer?

The Conservatives are also promising to increase the value of the adoption expense tax credit to $20,000 and make the credit refundable – meaning families may get money back at tax time.

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According to the Parliamentary Budget Officer (PBO), the proposed EI measures would cost between $12 million and $16 million a year. The PBO said it would have a marginal impact on the federal treasury because it would be paid for through employer and employee premiums.

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