New Tax Credit to Spur Private Developers to Build Affordable Housing: Province

Manitoba LogoThe Manitoba Government is hopeful a new tax credit will help private developers include affordable housing in their building plans.

The new rental housing construction tax credit is for private and non-profit housing developers to help build new rental housing. Developers who build rental housing can get eight per cent, up to a maximum of $12,000, back per unit.

In order to receive the benefit at least 10 per cent of the new units built must have affordable rents, said provincial housing minister Peter Bjornson.

The housing project must also be a new construction or converted from non-residential use, have five or more units, and be ready for occupancy before 2017.

— Staff


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