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Manitoba 2014 Budget

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Manitoba  ->  Manitoba Provincial Budgets -> Budget 2014

Manitoba 2014 Budget - March 6, 2014

Manitoba Personal Tax Changes

bulletIntroduction of a Seniors' School Tax Rebate
bulletMineral Exploration Tax Credit was set to expire after March 2015.  It will be extended to cover flow-through share agreements entered into before April 1, 2018.
bulletCommunity Enterprise Development Tax Credit is being enhanced by the following changes will take effect for eligible shares issued after 2014:
bullettax credit rate increased by 50% from 30% to 45%
bulletmaximum annual shares an investor can acquire is doubled from $30,000 to $60,000
bulletthe tax credit will be made fully refundable
bulletcorporations with permanent establishment in Manitoba and who pay at least 25% of their payroll to Manitoba residents will be eligible to acquire tax creditable shares
bulletmaximum eligible shares an approved company can issue under the program is tripled from $1 million to $3 million
bulletthe tax credit is extended to 2020
bulletthe above changes will result in a maximum annual tax credit of $27,000, increased from $9,000

Manitoba Green Measure

Emissions Tax

Commencing January 1, 2014, petroleum coke used in Manitoba is subject to a new Emissions Tax equal to $10 per tonne of carbon-dioxide-equivalent emissions.

The Emissions Tax on Coal was introduced commencing January 1, 2012.  The ban on using coal and petroleum coke for space and water heat is in effect January 1, 2014.  A grace period up to July 1, 2017 may be granted upon application.

Manitoba Business Measures

bulletManufacturing Investment Tax Credit was set to expire on December 31, 2014.  It will be extended to December 31, 2017.
bulletBook Publishing Tax Credit was set to expire on December 31, 2014.  It will be extended to December 31, 2017.
bulletCultural Industries Printing Tax Credit definition of an eligible book will be amended:
bulletmaximum credit is capped at $30,000 per book title
bulletat least 90% of a book must be new material that has not been previously published
bulletif the book contains pictures and is  not a children's book, the ratio of the amount of text to pictures in the book is at least 65%; and
bulletthe printer must demonstrate that the book is for sale through an established distributor.
bulletCo-op Education and Apprenticeship Tax Credits will be extended indefinitely instead of expiring on December 31, 2014.  The credit will also be significantly enhanced for each employer for taxation years ending after 2014.
bulletSmall Business Venture Capital Tax Credit is being enhanced for eligible shares issued after 2014:
bullettax credit increased by 50% from 30% to 45%
bulletlifetime limit in tax creditable shares an approved corporation can issue is doubled to $10 million
bulletmaximum annual tax credit claimable by an investor increased by 50%, from $45,000 to $67,500
bulletan existing shareholder who has less than 35% equity in a company, increased from less than 10%, is eligible to purchase tax creditable shares.
bulletthe above changes will result in a maximum tax credit earned by an investor when investing in a company being increased by 50%, from $135,000 to $202,500
bulletOdour Control Tax Credit, scheduled to expire on December 31, 2014, will be extended to December 31, 2017

All budget measures are subject to legislative approval.

For complete budget information, see the following on the Manitoba Finance website:

    - 2014 Budget

    - Manitoba Tax Advantage - Tax measures (pdf)

Revised: September 19, 2017

 

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