Manitoba Manufacturing Investment Tax Credit
The Manufacturing Investment Tax Credit supports businesses by provided an eight per cent tax credit (seven per cent refundable and a one per cent non-refundable) that acquire qualified plant, machinery and equipment for use in manufacturing or processing in Manitoba.
Offered by Ministry of Finance
Amount
8% tax credit
Quick eligibility check
Who can apply
- Acquire qualified plant, machinery and equipment for use in manufacturing or processing in Manitoba
- In addition to the above, the Manufacturing Investment Tax Credit includes equipment under class 43.1
- Class 43.1 includes (for a firm's own consumption) equipment used to produce energy from renewable sources and equipment that uses energy more efficiently
- Class 43.2 Assets also qualify for the credit
About the funding
The Manufacturing Investment Tax Credit supports businesses by provided an eight per cent tax credit (seven per cent refundable and a one per cent non-refundable) that acquire qualified plant, machinery and equipment for use in manufacturing or processing in Manitoba.
Corporations earn a nine per cent tax credit (for eligible property acquired on or after April 12th, 2017 but before July 1 2019) or an eight per cent tax credit (for eligible property acquired on or after July 1st, 2019) which can be applied against Manitoba corporate income tax payable in the year earned, with unused credits available for a ten-year carry-forward. This credit is 7/8 refundable and 1/8 non-refundable with respect to qualified property acquired on or after July 1st, 2019. This credit is 8/9 refundable and 1/9 non-refundable with respect to qualified property acquired on or after April 12, 2017 but before July 1, 2019. This program is administered by Canada Revenue Agency on behalf of Manitoba.
An income tax election allowing taxpayers to renounce, in whole or in part, the Manufacturing Investment Tax Credit is provided.
In addition to the above, the Manufacturing Investment Tax Credit includes equipment under class 43.1. Class 43.1 includes (for a firm's own consumption) equipment used to produce energy from renewable sources and equipment that uses energy more efficiently. Class 43.2 Assets also qualify for the credit.
Claimed through the Canada Revenue Agency on your corporate tax return.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Green Energy Equipment Tax Credit | Tax Credit | 7.5% tax credit on geothermal heat pumps manufactured in Manitoba plus 15% on the remainder of the geothermal system's capital costs | Open |
| Accelerated Investment Incentive | Tax Credit | no fixed amount | Open |
| Air Quality Improvement Tax Credit | Tax Credit | no fixed amount | Open |
| Clean Technology Investment Tax Credits (ITC) | Tax Credit | no fixed amount | Open |
