Introduced in Budget 2024, Manitoba government tax credits coming into effect in the new year will put more money into the pockets of Manitoba homeowners and renters, Finance Minister Adrien Sala has announced
“The previous government wanted to give breaks to out-of-province billionaires. We’re taking a different approach,” said Sala. “These new tax credits will provide help for all Manitobans, but particularly those who need it most.”
More than 80 per cent of Manitobans will be benefited by the $1,500 Homeowners Affordability Tax Credit Introduced in Budget 2024, the minister noted.
As part of the Manitoba government’s commitment to support producers and their families, the School Tax Rebate for farm properties is being maintained at 50 percent, noted the minister.
This new tax change will not only facilitate young Manitobans to buy their first home, but also make it easier for homeowners to afford their mortgage payments, the minister added.
As the first step, the Manitoba government’s four-year commitment of fully restoring the Renter’s Tax Credit to $700 would be to increase the maximum Renter’s Tax Credit to $575 starting in the new year.
