Canada: Tax credit measures extended, enhanced (Manitoba)
Canada: Tax credit measures (Manitoba)
Manitoba's budget implementation Bill 2 received Royal Assent on 6 November 2020, thereby enacting several income tax measures that were introduced in Manitoba's 2020 budget.
Manitoba Bill 2 includes corporate tax measures announced in the province's 2020 budget and originally included in Bill 34. Bill 2 includes measures relating to the following tax credits:
- Make the manufacturing investment tax credit permanent
- Enhance the child care centre development tax credit
- Enhance the film and video production tax credit
- Extend the mineral exploration tax credit to 31 December 2023
- Extend the cultural industries printing tax credit to 31 December 2021
- Extend the community enterprise development tax credit to 31 December 2021
With Bill 2, the thresholds for Manitoba's health and post-secondary education tax levy (payroll tax) are increased, and probate fees are repealed.
The bill also includes measures to harmonize the province with certain federal deadline and time-limit extensions.
Read a November 2020 report prepared by the KPMG member firm in Canada
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