Canada: MoF tables the fiscal budget 2017-18 for Manitoba

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The Fiscal Budget 2017-18 of province Manitoba has been presented on 11th April 2017 by the Ministry of Finance. There are no increases to personal or business taxes. The corporate tax rate for small business and their taxable limit remains unchanged. This budget gives a research and development tax credit for scientific development, which is reduced to 15 per cent from 20 per cent for eligible expenditures made after 11th April 2017. It also abolishes the capital tax deduction that will be effective for fiscal years ending after 30th April 2017. This budget doesn’t incorporate any changes towards individual taxation but tuition fee income-tax reimbursement for post-secondary graduates who stay to work in Manitoba value up to $2,500 a year per person. It will be phased out by 2018.

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