WINNIPEG — Small businesses in Manitoba will soon be able to quality for a zero percent income tax rate.
The government is raising the income limit on income tax to $450,000 from $425,000, which will affect approximately 2,000 businesses.
“This is good news for small business owners. It means that we will have more money to invest in our businesses,” said Talia Syrie, owner The Tallest Poppy during a press conference on Wednesday.
Finance Minister Greg Dewar says $3.8 billion has been returned to entrepreneurs since 1999 due to tax relief measures in the province.
The changes come into effect January 1, 2016.