Manitoba Finance Minister Cameron Friesen delivered the province’s 2017 budget on April 11, 2017.
The budget anticipates a deficit of $840 million for the 2017-2018 fiscal year, $698 million for the 2018-2019 fiscal year and $549 million for the 2019-2020 fiscal year. Although the budget does not make any changes to the personal or corporate tax rates, the budget amends several of Manitoba’s tax credits, including reducing the provincial Research and Development (R&D) Tax Credit to 15% (from 20%) and decreasing the non-refundable portion of the Manufacturing Investment Tax Credit to 1% (from 2%), among other changes. In the budget, Manitoba also says it will continue to review its tax system.
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