The province's recently released 2026 budget has many proposed changes to affect families everywhere in Manitoba, especially when it comes to tax credits.
Tere Stylako of MNP Accounting said this year's budget looks well distributed.
"I think they're trying to really spread out their funds to places where they feel are very important, things like the Renters Affordability Tax, and retail sales tax on different food items at the grocery store..." said Stykalo.
The Renters Affordability Tax Credit is being increased by $50 annually, up to $675, and an increase of $100 annually for the Homeowners Affordability Tax Credit, up to $1,700, being reduced for homes with a value higher than $1 million, and eliminated for homes with a higher value than $1.5 million.
The most important and talked-about part of the budget was the province's decision to remove Provincial Sales Tax (PST) on all food from grocery stores in Manitoba. Stykalo said it may not be much each trip to the grocery store, but it will certainly add up.
"When you think about what is in a shopping basket that represents the PST that Manitobans spend money on on a regular basis, maybe it's up to 20% of their groceries on a visit to the grocery store. So what's that going to translate to? Maybe $100 a year in savings, prices will go up or down, but hopefully it's not in relation to just the tax relief that the government's going to provide," said Stykalo.
Though $100 may not sound like much, the province's removal on PST on food from grocery stores, as well as changes to Renters and Homeowners Affordability Tax Credits, helps save money for the Manitobans that need it most.
