TaxTips.ca
Canadian Tax and
Financial Information
Manitoba 2017 Budget

Ads keep this website free for you.
TaxTips.ca does not research or endorse any product or service appearing in ads on this site.  Before making a major financial decision you  should consult a qualified professional.

Looking for US tax information?
See
USTaxTips.net

Need an accounting, tax or financial advisor? Look in our Directory.      Stay Connected with TaxTips.ca!      Internet Explorer - Use compatibility view for calculators to work properly!

Home
What's New
Calculators
Personal Tax
Business
Sales Taxes
Free in 30!
Financial Planning
RRSP RRIF TFSA
Real Estate
Stocks Bonds etc.
Seniors
Disabilities
Canada
Alberta
British Columbia
Manitoba
Ontario
Quebec
Saskatchewan
Atlantic Provinces
Territories
Federal Budget
Provincial Budgets
Statistics etc.
Glossary
Site Map
Directory
Advertise With Us
Contact Us/About Us
Links & Resources



Manitoba-> Budgets -> 2017 Budget

Manitoba 2017 Budget - April 11, 2017

The complete 2017 Budget can be found on the Manitoba website.  See also Bill 36, The Budget Implementation and Statutes Amendment Act, 2017, tabled May 25, 2017.

All tax changes are subject to legislative approval.

Tax Changes:

Existing Tax Credits Extended

    - Manufacturing Investment Tax Credit and Mineral Exploration Tax Credit are extended to December 31, 2020.
    - Book Publishing Tax Credit is extended to December 31, 2018.
    - Interactive Digital Media Tax Credit is extended to December 31, 2019.

Personal Tax Measures

    - Tuition Fee Income Tax Rebate is being phased out commencing in 2017, and is fully eliminated for the 2018 tax year.  Any unclaimed rebate credits will lapse.

    - The Tuition Fee Income Tax Rebate Advance is eliminated effective for tuition and ancillary fees paid in relation to a school term that begins after April 2017.

    - The Education Amount Tax Credit will not be eliminated, although it is being eliminated federally and in some provinces.

    - The Children's Arts and Cultural Activity Tax Credit, and the Fitness Tax Credit will not be eliminated, although it is being phased out federally.

    - The Primary Caregiver Tax Credit is amended to cap the annual credit at a maximum of $1,400 in 2017 and future years.

    - The Political Contributions Tax Credit is enhanced for 2018 and later years, by increasing the maximum eligible contribution from $1,275 to $2,325, which increases the total available annual credit from $650 to $1,000.

Business Tax Measures

    - Corporations with less than $5,000 in tax payable in a fiscal year will no longer have to file an annual instalment for Corporation Capital Tax, but will remit the tax when filing their annual Corporation Capital Tax Return.
    - Research and Development Tax Credit is reduced from 20% to 15% for eligible expenditures made after Apr 11, 2017.
    - For property acquired after April 11, 2017, the non-refundable portion of the Manufacturing Investment Tax Credit (MITC) is reduced from 2% to 1%.
    - Starting with the 2017 tax year, Crown corporations and other provincial government entities are no longer eligible for the Paid Work Experience Tax Credit.
    - The Co-operative Development Tax Credit is eliminated for contributions made after April 11, 2017.
    - The Odour Control Tax Credit is eliminated for expenditures made after April 11, 2017.
    - The Riparian Tax Credit is eliminated effective immediately, but this does not impact eligibility for unused credits on 5 year commitments made before April 12, 2017 by farm operators and livestock producers to protect a strip along a waterway on agricultural land.
    - The Neighbourhoods Alive! Tax Credit is eliminated effective immediately.  There have been no claimants since the inception of the credit in 2011.
    - The Data Processing Investment Tax Credits are eliminated effective immediately.  This does not impact credits earned but unused and eligible to be carried forward by corporations or partnerships for qualified property purchased or leased before April 12, 2017.
    - The Nutrient Management Tax Credit is eliminated for expenditures made after April 11, 2017, but this does not impact the carry forward of unused credits for expenditures made prior to April 12, 2017.

More information on the tax changes can be found in Budget Paper C - Tax Measures.  See also Manitoba's information on Corporate Tax Credits.

Revised: May 30, 2017

 

Copyright © 2002 - 2017 Boat Harbour Investments Ltd. All Rights Reserved  See Reproduction of information from TaxTips.ca

Facebook  | Twitter  |  Google + |  Monthly Newsletter Sign-up  What’s New E-mail Notification RSS News Feed
The information on this site is not intended to be a substitute for professional advice.  Each person's situation differs, and a professional advisor can assist you in using the information on this web site to your best advantage. 
Please see our legal disclaimer regarding the use of information on our site, and our Privacy Policy regarding information that may be collected from visitors to our site.