Province pitches tax relief for manufacturers
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Proposed legislation aims to make Manitoba’s manufacturing sphere more competitive.
The NDP government on Tuesday announced plans to convert part of the Manufacturing Investment Tax Credit into a retail sales tax exemption on new machinery and equipment.
The exemption would apply at the time of purchase (for qualifying items). The tax credit’s one per cent non-refundable portion would be retained.
“This gives businesses the opportunity to reinvest those savings to create more good jobs and strengthen Manitoba’s economy,” Business Minister Jamie Moses said in a news release.
The Opposition Progressive Conservatives lambasted the NDP for introducing the legislation on Tuesday, days before session is scheduled to end.
“Obviously an unorganized government that doesn’t really know what they’re doing,” said Tory house leader Derek Johnson.
Bill 51, which the legislation falls under, is set to come into force on Canada Day.
— Free Press staff