Lower taxes for Manitobans!
Our PC government is delivering tax relief for Manitobans!
We inherited a government from the NDP that had out of control spending, a billion dollar deficit, no outcome based targets and some of the highest taxes in Canada.
We are showing it is possible to reduce taxes, lower the deficit and increase spending to record amounts on education, families and healthcare at the same time.
The Budget 2018 changes to the Basic Personal Exemption will create the largest tax cut in Manitoba history. These measures will remove over 31,000 taxpayers from the tax rolls and save Manitobans $232 million by 2020.
Other key tax measures include:
- An innovative new Child Care Centre Development Tax Credit that gives businesses an incentive of up to $10,000 over five years to create licensed child care centres in our communities for working families.
- A simplified process for claiming the Primary Caregiver Tax Credit. We are removing complicated paperwork and allowing caregivers to self-assess their eligibility and register instead of applying for pre-approval.
- Raising the small business income tax threshold to $500,000 from $450,000, saving individual businesses up to $6,000 a year and injecting $7 million back into the economy annually starting in 2019.
- Eliminating the $15-million revenue cap for the Small Business Venture Capital Tax Credit and reducing the minimum investment requirement to $10,000 to increase private investment in small and medium-sized businesses.
- Eliminating the one per cent profit tax on credit unions and caisses populaires starting in 2019.
- Exempting fertilizer bins purchased by farmers for farm use and drill bits designed specifically for oil or gas drilling rigs from PST.