Manitoba Tables Deficit Budget

The 2015 Manitoba provincial budget was delivered on April 30, 2015. 

The budget projects a $422 million dollar deficit for 2015 but the government promises to reduce the deficit to zero by 2019.  In order to minimize the deficit, the government will use $105 million from the rainy day fund.

Personal tax changes include:

• The Seniors School Tax Rebate will double in 2015 from $235 to $470 and seniors will be able to claim the rebate even if they don’t own the land their home is on;
• The Primary Caregiver Tax Credit will increase by 10% from $1,275 to $1400; and
• A new non-refundable credit for Volunteer Firefighters and Search and Rescue volunteers will be introduced.  These credits mirror the federal credits (except that the credit rate is 10.8%).

Tobacco taxes will be increased by one dollar per carton.

Corporate tax changes include:

• The Film and Video Tax Credit will be extended to 2019.
• Capital taxes on financial institutions will increase from 5% to 6%