2021 Manitoba Budget Highlights

On April 7, 2021, the Province of Manitoba unveiled its 2021 budget. To the relief of many, the budget does not increase corporate or personal income tax rates. There are however, a number of other significant changes which include new, enhanced, and extended corporate and personal tax credits, new rebates on the education property tax, as well as changes in the requirements for certain retailers to collect and remit provincial sales tax.

Health and Post-Secondary Education Tax Levy

  Effective January 1, 2022, this credit, frequently referred to as "payroll tax", will have increased thresholds as follows:

i. An increase in the exemption threshold for a business' annual payroll from $1.5 million to $1.75 million.