Manitoba Finance reminds Manitobans the minimum wage will increase by 25 cents to $11.90 Oct. 1.
The increase of 25 cents per hour will raise the current minimum wage to $11.90 from $11.65. This adjustment is based on Manitoba’s 2019 inflation rate of 2.2 per cent, rounding up to the nearest five cents.
Budget 2019 implemented the reduction of the sales tax rate to seven per cent from eight per cent, effective July 1, 2019. This broad-based tax cut benefits all Manitoba families and businesses, with an estimated total savings of $325 million in the first full year and growing in each subsequent year. On July 1, 2020, Manitoba eliminated the sales tax on property insurance premiums, saving families and businesses an additional $75 million.
Manitobans also continue to benefit from the indexation of the Basic Personal Amount and the provincial income tax brackets since 2017. Since indexation began, an estimated 7,720 Manitobans have been removed from the tax rolls and the cumulative maximum tax savings from the 2017 tax year to 2019 tax year is $253.
Information on the minimum wage and other employment standards is available at www.gov.mb.ca/labour/standards.
(Province of MB Release)