Conservatives introduce legislation to provide financial relief to families across Canada
FERGUS – Michael Chong, Member of Parliament for Wellington-Halton Hills, was pleased to join the Official Opposition this week in introducing the Supporting New Parents Act.
“Welcoming a new child into a family is an incredibly special moment for parents,” said Chong. “Canada’s Conservatives understand the importance of supporting young families with children during those important early years.”
Andrew Scheer, Leader of the Official Opposition, announced that Conservatives will offer tax relief to young families by introducing the Supporting New Parents Act, which was tabled in Parliament on February 5, 2018.
Raising children is a big responsibility and Canada’s Conservatives recognize the sacrifices parents make for their children, including taking a leave from work and losing almost a half of their regular income.
Currently, Canadians taking advantage of EI maternity and parental benefits 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 earning $50,000 per year would be eligible for a tax credit of around $4,000 when going on EI for maternity or parental leave,” said Chong. “For any young family, this tax relief will make a big difference and help with the costs of raising a newborn. Canadian parents need our support, especially as the cost of living continues to rise for families.”
This announcement is among the first steps in outlining a positive Conservative vision for Canadians. “Life has gotten more expensive for young families under the Liberals, and Canada’s Conservatives are bringing forward ideas to help families with the ever-rising cost of living,” said Chong.
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