Supporting New Parents Act
Welcoming a new child into a family is an incredibly special moment for so many parents and Canada’s Conservatives understand the importance of supporting young families with their children during those important early years.”
Some of my best memories are from when my children were young. Recently, Canadian families having been voicing their concerns about the Trudeau Liberals’ tax hikes and the impact they’ve had on raising a family.
On February 1,2018 the Leader of the Official Opposition, Andrew Scheer has announced that Conservatives will offer tax relief to young families by introducing the Supporting New Parents Act.
Raising children in Canada can be challenging. Canada’s Conservatives recognize the sacrifices Canadian parents have to make for their new children, including taking a leave from work and losing almost a half of regular income.
Currently, Canadians taking advantage of EI maternity benefits and EI parental programs still pay federal income tax on the money they receive. The Supporting New Parents Act will create a federal non-refundable income tax credit for any income earned under these programs.
A Canadian, who before going on EI earned $50,000 per year, would be eligible for a tax credit of around $4,000. For any young family, this important tax relief would make a huge difference in the costs of raising a newborn. Canadian parents should be able to focus on providing for the new child.