Bigger Paycheques for Manitobans
To create bigger paycheques for all Manitobans, a re-elected PC government will cut the tax rate on the lowest provincial income tax bracket in half over the next four years, representing a 1.35% tax reduction annually.
For the average income of $50,000, that amounts to savings of $1,900 per year by 2028, or roughly the equivalent of an extra paycheque every year, providing long-term tax relief for Manitobans.
The promised tax changes are made possible by strong provincial revenues and the early results of economic development initiatives undertaken by the PC government. The changes will be done with fiscal responsibility in mind, and will build on historic tax measures in Budget 2023, which increased the Basic Personal Amount to $15,000 and resulted in an extra $75 per month in tax savings for Manitobans.
Fighting for First Time Homebuyers
A re-elected PC government will take immediate action to remove financial barriers to homeownership by eliminating the Land Transfer Tax for first-time home buyers.
In Manitoba, homebuyers are required to pay a Land Transfer Tax, calculated on fair market value, as well as a registration fee. The Land Transfer Tax costs approximately $5,700 on the average detached single-family home sold in Winnipeg in July.
Eliminating the Land Transfer Tax builds on historic tax measures in Budget 2023, as well as new PC commitments to keep more money in the pockets of Manitoba families so they can make ends meet. That includes:
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Lowering income taxes for all Manitobans by cutting the first provincial income tax bracket in half over the next four years—the equivalent of an extra paycheque each year; and
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Increasing the Basic Personal Amount in 2023, resulting in an extra $75 per month in tax savings for Manitobans.
Improving Affordability for Seniors
The median income for Manitoba seniors aged 65 and older was $34,800 in 2021. A PC government will help seniors make ends meet by allowing them to defer some or all of their yearly property taxes until a future sale of their home. Manitoba seniors want to stay in their homes as long as possible.
A re-elected PC government will also introduce a new $500 annual tax credit to help cover the costs of equipment required for aging such as walkers, wheelchairs, canes and improvements to their home.
Over the last 2 years, the PC government has taken action to improve the lives of seniors by creating Manitoba's first-ever Ministry of Seniors and Long-Term Care and launching the province's first-ever province-wide seniors strategy, "Manitoba, A Great Place to Age."
Several new initiatives have followed to help seniors live fulfilling, and empowered lives, including:
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Launching a new $12.6 million program to provide assistance for seniors who need hearing aids;
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Launching $3 million in housing initiatives, including a home modification grant program and increasing per diem rates for supportive housing; and
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Launching a new home and community care pilot program to start in spring 2024.
Balancing the Budget by 2025
The provincial budget will be balanced by 2025 under a re-elected PC government. That’s two years ahead of schedule, and all while lowering taxes and making record investments into healthcare, education, and infrastructure across Manitoba.
Giving back to the Giving
Manitobans are generous! A re-elected PC government will nearly double the charitable tax credit to encourage you to support Manitoba charities even more. This change will increase the rebate on the first $200 of contributions from 10.8% to 20% and contributions over $200 from 17.4% to 25%. Manitobans will have the most charitable tax credit in Canada.