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Manitoba 2009 Budget

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Manitoba  ->  Manitoba Provincial Budgets -> Budget 2009

Manitoba 2009 Budget - March 25, 2009

See the Manitoba government Budget 2009 website for complete budget details, and their Budget Tax Changes Bulletins page for the Taxation Changes 2009 Budget document.

Personal Income Tax

Personal Tax Credits

Education Property Tax Credit  - the basic amount is increased from $600 (2008) to $650 for 2009.

The taxable portion of withdrawals from Registered Disability Savings Plans (RDSPs) will be excluded from family net income for the purposes of the following three refundable Manitoba tax credits:

    - Education property tax credit

    - School tax credit for homeowners, and

    - Personal tax credit

Community Enterprise Development Tax Credit

This is a non-refundable, 30% personal income tax credit for resident investors in eligible community enterprise development projects.  The maximum tax credit is $9,000, based on a $30,000 investment.  The maximum value of issuable shares that a business can apply for under this program is doubled from $500,000 to $1 million, commencing in 2009.

For more information see Community Enterprise Development Tax Credit on the Manitoba website.

Mineral Exploration Tax Credit

The rate of this non-refundable tax credit will increase from 10% to:

bullet 20% on agreements entered into from April 1, 2009 to March 31, 2010, and to
bullet 30% on agreements entered into from April 1, 2010 until March 31, 2011

Personal Tax - previously announced changes

There were no further changes to personal income tax brackets or rates.  These were previously revised for 2008 to 2011 by the 2007 BudgetHowever, the tax changes after 2008 were subject to budget balancing provisions.  As of November 16, 2009, the 2010 tax brackets and personal income tax rates remain unchanged from 2009.

Also previously announced:

The basic personal amount, spousal amount, and eligible dependent amount are each increased by $100 to $8,134 for 2009.

The refundable Personal Tax Credit amounts will be increased in 2009.

Primary Caregiver Tax Credit is introduced for the 2009 tax year.  The primary caregiver may be a spouse, other relative, neighbour or friend who provides care without remuneration to a qualifying Manitoba Home Care client.  After a three month qualifying period, the refundable credit is $85 per month to a maximum of $1,020 per year to the primary caregiver for each client, to a maximum of three clients within a given month.

Federal Tax Changes

Federal budget 2009 tax measures that are also adopted:

bullet Home Buyers' Plan withdrawal limit (from RRSPs) is increased from $20,000 to $25,000
bullet Business tax changes:
bullet 50% accelerated capital cost allowance (CCA) on manufacturing machinery and equipment is extended to property acquired in 2010 and 2011
bullet Computer hardware and systems software acquired in 2009 and 2010 qualify for 100% CCA rate
bullet Proposed nondeductibility of interest payments by Canadian companies respecting foreign affiliates is repealed.

Corporate Tax

Corporate Income Tax Rates

The small business corporate income tax rate is reduced from 1% for 2009 to zero, effective December 1, 2010.  The  dividend tax credit rate for small business dividends will be reduced to 1.75% of grossed-up dividends starting with the 2011 taxation year.

As previously announced in Budget 2007, the general corporate tax rate is reduced from 13% to 12% effective July 1, 2009.

For information on other budget measures for business, see the Manitoba Budget 2009 Taxation Adjustments (pdf) document.

Revised: September 19, 2017

 

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