(AGENPARL) – gio 23 giugno 2022 [Manitoba Media Notice]
June 23, 2022
Statement from Finance Minister Cameron Friesen About
Tax Freedom Day
The Fraser Institute has named Manitoba the number one province for Tax Freedom Day, the day of the year when the average individual has earned enough money to pay their taxes. This year, Manitoba reached that day on June 4, ahead of every other province.
Now more than ever, Manitoba families are concerned by inflation rates, rising fuel and food prices. Budget 2022 builds on our commitment to make life more affordable by delivering the largest tax relief measure in Manitoba history with the Education Property Tax Rebate. The rebate provides an average of $600 to homeowners. To ensure renters also receive tax relief, we introduced a new Residential Renters Tax Credit worth $525.
To help small business, our government has adjusted the threshold on the health and post-secondary education tax levy. This higher threshold will benefit approximately 970 Manitoba employers, including exempting approximately 180 Manitoba employers. Additional enhancements to the Small Business Venture Capital Tax Credit have been made to benefit Manitobans participating in venture capitals funds, thereby improving access to capital and supporting entrepreneurs.
Since we took office, our government has been steadily addressing the tax burden and making life more affordable for all Manitobans. This includes reducing the PST from eight per cent to seven per cent, indexing the basic personal income, exempting personal services, will preparation and property insurance from retail sales tax, and eliminating probate fees.
In 2019, we committed to a $2,020 Tax Rollback guarantee by 2023 for every individual taxpayer in Manitoba. This year, we will exceed that commitment as those savings are now worth $2,400 for an individual. In a family of two, that equates to nearly $5,000 in annual tax and fee savings.
Budgets 2016 to 2022 have introduced business and household tax and fee savings worth over $1.1 billion annually, giving Manitobans back more of their hard-earned money.
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For more information:
– Public information, contact Manitoba Government Inquiry: 1-866-626-4862 or 204-945-3744.
– Media requests for ministerial comment, contact Communications and Stakeholder Relations: 204-451-7109.