Keeping our promises. Real progress for the economy.
Budget 2018 puts Manitoba's economy on the road to recovery and provides a solid plan for making Manitoba the most improved province in Canada.
We're investing in priorities that support a thriving economy in Manitoba including:
- reaffirming our commitment to improve economic competitiveness by rolling back the retail sales tax to seven per cent by 2020;
- increasing the small business income limit for the small business tax rate to $500,000 from $450,000 on Jan. 1, 2019, providing greater tax relief to Manitoba small businesses, delivering $7 million annually in small business tax relief;
- enhancing the Small Business Venture Capital Tax Credit by eliminating the $15-million revenue cap to allow more companies to qualify;
- reducing the minimum investment requirement to $10,000 from $20,000 per investor so more Manitobans can invest in small to medium-sized businesses, and increase private investment in the province;
- removing ambiguity under the Community Enterprise Development Tax Credit to ensure co-operatives are eligible to use the tax credit;
- delivering the Interactive Digital Media Tax Credit, which provides a fully refundable income tax credit to companies that develop interactive digital media products;
- maintaining record funding for Travel Manitoba to support increased visitor spending, which grew by 6.7 per cent in 2016; and
- developing new opportunities for Manitoba companies to access more job-creating growth capital.
