Manitoba Finance Minister Scott Fielding delivered the province’s 2020 budget
Manitoba Finance Minister Scott Fielding delivered the province's 2020 budget on March 19, 2020, along with a COVID-19 Emergency Supplement to Budget 2020. The budget anticipates a deficit of $325 million for 2019-20 and, although it projects a deficit of $220 million for 2020-21, it also acknowledges that these estimates are highly variable and will be updated over the coming months, as the situation resulting from COVID-19 unfolds.
While the budget does not include any new changes to the corporate or personal tax rates, it decreases Manitoba's retail sales tax rate to 6% (from 7%), effective July 1, 2020 and reduces the refundable portion of the Manufacturing Investment Tax Credit to 6% (from 7%), effective for qualifying property acquired after June 30, 2020. The budget also increases the thresholds for the province's payroll tax and introduces a green levy of $25 per-tonne of carbon dioxide equivalent emissions, among other measures.
Notably there were no tax measures included in Manitoba's COVID-19 Emergency Supplement to Budget 2020.
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