Proposed Conservative parental tax credit would cost $600M or higher: PBO

Conservative Leader Andrew Scheer’s proposed tax credit for parents would cost the federal government over $600 million dollars in lost revenues in the first year

A new report by the parliamentary budget watchdog says Conservative Leader Andrew Scheer’s proposed tax credit for parents would cost federal coffers more than $600 million in the first year — and possibly even more.

The parliamentary budget office released a report this morning saying if passed, Bill C-394 — which includes a tax credit for those on parental leave — would mean foregone revenues of $607.6 million in 2018-19.

Because not all families would be able to claim the total amount in the first year, an additional $261 million in costs would likely be added in future years.

In its 2018 budget, the Trudeau government announced changes to provide additional weeks of parental leave for families with both parents taking time off to care for a newborn.

The PBO estimates Scheer’s proposed measure would increase the cost of the Liberal government’s benefit by an additional $24.1 million.

Scheer tabled his private member’s bill last month, promoting it as a way to help new parents offset any taxes owing on their maternity and parental leave.

Related: Baloney Meter: Are feds crossing $1-trillion mark on market debt for first time?

Related: Andrew Scheer in the Shuswap

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Okanagan’s smoke filled skies toxic to pets

Pet owners should take extra precautions with pets until smoke dissipates

Smoke cancels Super League Penticton, organizers give pros a gift

Super League Penticton organizers decide to send all pro competitors to championship

Smoky skies means stay inside, according to Interior Health

The air quality in the Okanagan is considered a high risk

Air support grounded as fires fill the skies with smoke

Heavy smoke throughout the region thwarted efforts of BC Wildfire Saturday, as… Continue reading

‘Beauty amongst such tragedy:’ B.C. photographer captures nature’s trifecta

David Luggi’s photo from a beach in Fraser Lake shows Shovel Lake wildfire, Big Dipper and an aurora

Canadians fear for relatives trapped amid flooding in Indian state of Kerala

More than 800,000people have been displaced by floods and landslides

IndyCar driver Wickens flown to hospital after scary crash

IndyCar said Wickens was awake and alert as he was taken to a hospital

Ex-BCTF president ‘undeterred’ after early release from pipeline protest jail term

Susan Lambert and Order of Canada recipient Jean Swanson released early

Air support grounded as fires fill the skies with smoke

Update Aug. 19 1:25 p.m. A majority of air support is still… Continue reading

Crews continue extinguish Snowy Mountain Wildfire

The 13,359 hectare wildfire is classified as held

Flights from Kelowna International Airport affected by wildfire smoke

Passengers are being asked to check their flight’s status before arriving

Work continues on Monashee Complex wildfires

Crews will be assisted by helicopters if flying conditions improve

Fast food chains look to capitalize on vegetarian, vegan trend with new items

Seven per cent of Canadians consider themselves vegetarians and 2.3 per cent identify as vegans

Most Read