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… Learn More
Author(s):
 Leo E.K. Palay
published 04/13/2021
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.
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.
ii. An increase in the annual payroll range subject to the 4.3% tax rate to payroll between $1.75 million and $3.5 million, from $1.5 million and $3 million.
iii. An increase in the threshold where the 2.15% tax applies on total payroll, from over $3 million, to over $3.5 million.
Removal of RST on personal care services
Streaming Services
Online marketplaces and accommodation platforms
Enhancements
Interactive Digital Media Tax Credit
Small Business Venture Capital Tax Credit
Film and Video Production Tax Credit
Extensions
Cultural Industries Printing Tax Credit
Community Enterprise Development Tax Credit
Book Publishing Tax Credit
Interactive Digital Media Tax Credit (IDMTC)
New Credit
New Teaching Expense Tax Credit
Education Property Tax Rebate
DISCLAIMER: This article is presented for informational purposes only. The content does not constitute legal advice or solicitation and does not create a solicitor client relationship. The views expressed are solely the authors’ and should not be attributed to any other party, including Thompson Dorfman Sweatman LLP (TDS), its affiliate companies or its clients. The authors make no guarantees regarding the accuracy or adequacy of the information contained herein or linked to via this article. The authors are not able to provide free legal advice. If you are seeking advice on specific matters, please contact Keith LaBossiere, CEO & Managing Partner at kdl@tdslaw.com, or 204.934.2587. Please be aware that any unsolicited information sent to the author(s) cannot be considered to be solicitor-client privileged.
While care is taken to ensure the accuracy for the purposes stated, before relying upon these articles, you should seek and be guided by legal advice based on your specific circumstances. We would be pleased to provide you with our assistance on any of the issues raised in these articles.