For many Canadians, being a parent and raising a family is the most important part of their lives. Employment Insurance (EI) maternity and parental benefits offer vital income support to parents during the critical period in early childhood when they need to take time off work to care for their children. Through the recently released Budget 2018, the federal government is proposing a new EI Parental Sharing Benefit to support equality in the home and the workplace by providing an additional five weeks of benefits when both parents agree to share parental leave. This measure would also provide greater flexibility— particularly for mothers—to return to work sooner, if they so choose, knowing their family has the support they need.
Tax time is just around the corner. If you would like more information on various programs, deductions and credits that can help save you money, contact The Lions Accounting Group Ltd., Chartered Professional Accountants at 604 926 3522.