Conservative Leader Andrew Scheer responds to a question during a news conference in Montreal on April 19, 2018. The parliamentary budget office released a report this morning saying Bill C-394, which would bring in a tax credit for those on parental leave, would result in foregone revenues of $607.6 million in 2018-19. PAUL CHIASSON / THE CANADIAN PRESS

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

Victoria ranks 20th among 25 Canadian cities for Internet experience

Findings appear in a 2016 report from Canadian Internet Registration Authority

Squirrels star of guided walk in Saanich park

Going Squirrelly Guided Walk happening Sunday in Francis/King Regional Park

B.C. storm totals $37M in insured damages

The December storm wreaked havoc on B.C.’s south coast

Oak Bay realtor recalls sale of home where family was murdered

Home sellers not always required to disclose violent crimes

Victoria police seek witnesses after assault reported by man in wheelchair

Cops hope to speak with witnesses near Yates and Douglas on Jan. 13 between 1:45 and 3:15 p.m.

Trudeau says politicians shouldn’t prey on Canadians’ fears

The Prime Minister was speaking at a townhall in Ontario

Body of Canadian miner found after African kidnapping

Kirk Woodman’s body was discovered 100 kilometres from the site where he worked for Progress Mineral Mining Company in Burkina Faso

POLL: Should people have to license their cats?

The Victoria Natural History Society has sent letters to 13 municipalities in… Continue reading

Greater Victoria Crime Stoppers wanted list for the week of Jan. 15

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

Study finds more than half of food produced in Canada wasted

The study released Thursday is the world’s first to measure food waste using data from industry and other sources instead of estimates

Snowed-in Austrian nuns insist they’re staying put

Authorities have deployed heavy equipment to clear snow and fallen trees blocking the road to the monastery

Condo rental bans may be on way out with B.C. empty home tax

Many exemptions to tax, but annual declarations required

B.C. chief says they didn’t give up rights for gas pipeline to be built

Hereditary chief: no elected band council or Crown authority has jurisdiction over Wet’suwet’en land

Thieves steal thousands from 140 Coast Capital Savings members

Online fraud tactics included phising and ‘brute force’ in November and December

Most Read