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Canada Highlights Adoption Tax Credit Expansion

by Mike Godfrey, Tax-News.com, Washington 29 July 2014

Canada’s Minister of State for Finance has drawn attention to the recent expansion of the Adoption Expense Tax Credit. Speaking at an event in Calgary, Kevin Sorenson said: “Our Government believes children deserve the roots, guidance, and love that a family can provide. That’s why the Harper Government is fully committed to supporting families, including those who bear the additional costs of adoption.

According to the Canadian Foster Care Adoption Attitudes Survey 2013 from the Dave Thomas Foundation for Adoption Canada, 21 per cent of Canadians are considering or have considered adopting a child, but, of those Canadians who have considered adopting a child, 75 per cent are concerned about being able to pay for the adoption.

The Adoption Expense Tax Credit is a 15 percent non-refundable tax credit that allows adoptive parents to claim eligible adoption expenses relating to the completed adoption of a child under the age of 18. For the purposes of administering the relief, expenses are eligible from the time an adoptive parent makes an application to register with a provincial ministry responsible for adoption, or with a licensed adoption agency; or the time that an adoption-related application is made to a Canadian court, whichever is sooner.

The 2014 Budget increased the maximum amount in expenses that the credit can apply to from CAD11,774 (USD10,892) to CAD15,000. The change applies to adoptions finalized after 2013.

Jeff Watson, Member of Parliament for Essex, said: “The increase in the Adoption Expense Tax Credit – following our Government’s move last year to expand eligible expenses to include adoption pre-placement costs – more accurately reflects the investment parents need to make to adopt and brings the hope of loving, permanent families to more of Canada’s waiting children.

According to Citizenship and Immigration Canada, Canadians adopted more than 1,000 children from abroad in 2013.


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