The Manitoba government has announced that tax credits, introduced in Budget 2024 and coming into effect in the new year, will put more money into the pockets of Manitoba homeowners and renters.
“The previous government wanted to give breaks to out-of-province billionaires. We’re taking a different approach,” said Finance Minister Adrien Sala. “These new tax credits will provide help for all Manitobans, but particularly those who need it most.”
Introduced in Budget 2024, the $1,500 Homeowners Affordability Tax Credit will benefit more than 80 per cent of Manitobans, the minister noted.
The School Tax Rebate for farm properties is being maintained at 50 per cent as part of the Manitoba government’s commitment to support producers and their families, noted the minister.
This new tax change will make it easier for young Manitobans to buy their first home and easier for homeowners to afford their mortgage payments, the minister added.
Starting in the new year, the maximum Renter’s Tax Credit will be increased to $575, which marks the first step to the Manitoba government’s four-year commitment of fully restoring the Renter’s Tax Credit to $700.
