Yesterday Canada's finance minister revealed the federal budget, and lo and behold, there are changes to the adoption tax credit!
Unfortunately, I think this is just a clarification and nothing really new.
"Economic Action Plan 2013 proposes to enhance the Adoption Expense Tax Credit to better recognize the costs unique to adoption.
Strong and stable families are critical to Canada’s long-term
prosperity. Families provide children with permanency, connections, and
support—and yet an estimated 30,000 children are currently in the care
of child welfare agencies across Canada, waiting to be adopted.
The Adoption Expense Tax Credit recognizes costs unique to adopting a
child. To provide better tax recognition of the costs incurred by
adoptive parents, Economic Action Plan 2013 proposes to allow additional
adoption-related expenses (such as fees for a provincially required
home study and mandatory adoption courses) to be eligible for the
credit. This change will apply to adoptions finalized after 2012."
Full text here: http://www.budget.gc.ca/2013/doc/plan/chap3-5-eng.html
From my understanding, people have already been claiming their PRIDE training and home study expenses. So this is nothing new, really. I was already planning on claiming these two expenses.
Also - it's not as if the tax credit is a large amount. For the 2012 tax year, the maximum amount that you can claim for this is
