Manitoba Manufacturing Investment Tax Credit

By mmuise
Description:

The Manufacturing Investment Tax Credit provides an 8% tax credit to businesses that acquire qualified plant, machinery and equipment for first-time use in manufacturing or processing in Manitoba.


Comments on Funding:

Funding takes the form of:
1. an 8% tax credit (7/8 refundable and a 1/8 non-refundable) for eligible property acquired on or after July 1st, 2019;
2. an 9% tax credit (8/9 refundable and a 1/9 non-refundable) for eligible property acquired on or after April 12th, 2017 but before July 1 2019.

The tax credit can be applied against Manitoba corporate income tax payable in the year earned, with unused credits available for a ten-year carry-forward.

Deadline: Rolling deadline
Eligibility:

Applicants must be businesses that acquire qualified plant, machinery and equipment for first-time use in manufacturing or processing in Manitoba.

Application Steps:

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Documentation Needed:

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Other Things to Note:

This program is administered by Canada Revenue Agency on behalf of Manitoba.

About the author
mmuise