There is not that much to report on the Manitoba budget although it does introduce two very good measures: the senior’s education property tax credit will increase to $1,100 over the next three years. The credit will increase to $950 (from $800) in 2011, $1,025 in 2012 and $1,100 in 2014. If you are a Manitoba resident who pays more than $250 of property tax in a year, you are entitled to an Education Property Tax Credit (EPTC). This is true whether you are a homeowner who pays property tax directly, or a tenant who pays property tax indirectly through your rent.
The EPTC is provided by the Province of Manitoba to help offset the property taxes Manitobans pay to support our public school system.
If you do not currently receive the credit, you can find more information on how to apply by clicking here
The Primary Caregiver Tax Credit will also increase by 25% to a maximum annual amount of $1,275 (from $1,020) beginning in 2011. This is great news for Manitoba caregivers. CARP congratulates the Province for being one of only two provinces that provides relief to burdened caregivers. The Primary Caregiver Tax Credit is a REFUNDABLE credit and therefore also helps lower income caregivers who would not otherwise pay taxes especially those who have to quit their jobs to look after loved ones. For more information on the credit, please click here
Keywords: budget, caregiver tax-refund, tax credits