Country:Canada
Year:2003
Policy status:In Force
Jurisdiction:State/Regional
Date Effective:2003
Policy Type:Economic Instruments>Fiscal/financial incentives>Tax relief
URL:http://www.gov.mb.ca/ctt/invest/busfacts/govt/manuf_taxc.html
Funding:Manitoba Budget 2003
Energy Efficiency Description:

The Government of Manitoba broadened the Manufacturing Investment Tax Credit (MITC) to encourage business to invest in energy efficient equipment or environmentally friendly sources. This programme targets new manufacturing plant and equipment purchased for first-time use in manufacturing or processing in Manitoba. Qualified investments must be made after 11 March 1992 and before 1 July 2006. The amount deductible against Manitoba income tax will be the lesser of the 10% investment tax credit or the Manitoba Corporate Income Tax otherwise payable. Unused investment credits can be carried forward up to ten years, or carried back up to three years. This credit was made partially refundable in the 2005 Budget. The 2008 Manitoba Budget increased the refundable portion to 70% of earned credits for qualified property acquired on or after 1 January 2008. This allows firms without taxable income to take immediate advantage of the MITC.

Climate Change Description:

The Government of Manitoba broadened the Manufacturing Investment Tax Credit (MITC) to encourage business to invest in energy efficient equipment or environmentally friendly sources. This programme targets new manufacturing plant and equipment purchased for first-time use in manufacturing or processing in Manitoba. Qualified investments must be made after 11 March 1992 and before 1 July 2006. The amount deductible against Manitoba income tax will be the lesser of the 10% investment tax credit or the Manitoba Corporate Income Tax otherwise payable. Unused investment credits can be carried forward up to ten years, or carried back up to three years. This credit was made partially refundable in the 2005 Budget. The 2008 Manitoba Budget increased the refundable portion to 70% of earned credits for qualified property acquired on or after 1 January 2008. This allows firms without taxable income to take immediate advantage of the MITC.

This record supersedes:Extension of the Manufacturing Tax Credit for Producers of Steam

Last modified: Fri, 15 Mar 2013 17:39:28 CET