
Manitoba manufacturing investment tax credit
- Open continuously
Overview
The Manitoba Manufacturing Investment Tax Credit provides businesses a total credit rate of up to 10% for investments in qualified property such as buildings, machinery, and equipment used for manufacturing or processing goods in Manitoba. This program aims to support and incentivize manufacturing activities by offsetting corporate income tax and offering refundable credits for eligible equipment and property investments.
At a glance
Funding available
- Increase performance through digital transformation
- Optimize production processes
- Reduce environmental footprint
- Up to 7% of project cost
- Open continuously
Eligible candidates
- Manufacturing
- MN
- For-profit business
- All revenue ranges
- All organization sizes
- All groups
Next steps
Activities funded
The Manitoba Manufacturing Investment Tax Credit is designed to support the acquisition of properties used predominantly for manufacturing or processing goods in Manitoba. The eligible property includes investments in new and used assets crucial for production activities.
- Acquisition of new buildings designated for manufacturing purposes.
- Purchase of used buildings converted for manufacturing or processing.
- Investment in new machinery and equipment for manufacturing goods.
- Procurement of used machinery that supports production processes.
Eligibility
Who is eligible?
Eligible applicants for the Manitoba Manufacturing Investment Tax Credit include corporations with manufacturing operations in Manitoba. The credit applies to the cost of new or used buildings, machinery, and equipment used mainly for manufacturing or processing goods for sale or lease in the province. Businesses can also apply the credit toward reducing their Manitoba corporation income tax payable before claiming any remaining amount as a refundable credit.
Eligible expenses
The Manitoba Manufacturing Investment Tax Credit covers expenses related to the acquisition of qualified property used for manufacturing or processing.
- Cost of new buildings used primarily for manufacturing or processing in Manitoba.
- Cost of used buildings used primarily for manufacturing or processing in Manitoba.
- Cost of new machinery made available for manufacturing or processing goods for sale or lease.
- Cost of used machinery made available for manufacturing or processing goods for sale or lease.
- Cost of new equipment used primarily for manufacturing or processing goods for sale or lease.
- Cost of used equipment used primarily for manufacturing or processing goods for sale or lease.
Eligible geographic areas
This tax credit is specifically targeted for businesses operating within the province of Manitoba, Canada. It supports companies that acquire or utilize eligible manufacturing properties within this geographical area.
- Companies operating in Manitoba, Canada.
Additional information
Here are additional relevant details for this grant:
- The credit can be applied retroactively to the three previous tax years and carried forward to the next ten tax years.
- Green energy equipment may be eligible for both the manufacturing investment tax credit and the green energy equipment tax credit.
- The date the property becomes available for use is critical for determining eligibility and rates for the credit.
- Applicants have the option under subsection 7.2(7) of the Manitoba Income Tax Act to renounce the manufacturing investment tax credit earned, in whole or in part, for the current tax year.
Frequently Asked Questions about the Manitoba manufacturing investment tax credit Program
What is the Manitoba manufacturing investment tax credit?
How much funding can be received?
Who is eligible for the Manitoba manufacturing investment tax credit program?
What expenses are eligible under Manitoba manufacturing investment tax credit?
Where is the Manitoba manufacturing investment tax credit available?
Is the Manitoba manufacturing investment tax credit a grant, loan, or tax credit?
Who are the financial supporters of the Manitoba manufacturing investment tax credit?
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