Personal Income Tax Changes for 2023/2024
Manitoba has increased the 2023 Basic Personal Amount Manitobans can claim on their income tax as well as increased the 2024 Tax Bracket Thresholds, saving Manitobans nearly $500 million this year.
On this page:
See chart below for a basic understanding of how much you might be saving this year on your personal income tax.
| 2024 Manitoba Income Tax | 2024 Manitoba Income Tax Without 2023 BPA Increase and 2024 Bracket Threshold Increases | 2024 Manitoba Income Tax Including 2023 BPA Increase and 2024 Bracket Threshold Increases | Savings | Percent Reduction |
|---|---|---|---|---|
| $30,000 | $2,007 | $1,536 | $471 | 23% |
| $40,000 | $3,111 | $2,616 | $495 | 16% |
| $50,000 | $4,386 | $3,754 | $632 | 14% |
| $60,000 | $5,661 | $5,029 | $632 | 11% |
| $70,000 | $6,936 | $6,304 | $632 | 9% |
| $80,000 | $8,211 | $7,579 | $632 | 8% |
| $90,000 | $9,776 | $8,854 | $921 | 9% |
| $100,000 | $11,516 | $10,129 | $1,386 | 12% |
| $150,000 | $20,216 | $18,829 | $1,386 | 7% |
| $200,000 | $28,916 | $27,529 | $1,386 | 5% |
NOTE - Tax Amounts are based on 2024 tax brackets/rates and Basic Personal Amounts only - no other tax credits or deductions are included
2023 Basic Personal Amount
Manitoba has changed the 2023 Basic Personal Amount, which is a non-refundable tax credit every Manitoba resident is entitled to claim on their income tax return. Effective for the 2023 tax year, the Basic Personal Amount has been increased to $15,780 (with indexing).
This measure means that compared to the 2022 Basic Personal Amount of $10,145, the tax savings from the Basic Personal Amount in 2023 will be up to $524 more for an individual or up to $1,048 more for a two-income family.
2024 Tax Bracket Thresholds
Effective for the 2024 tax year, Manitoba's tax bracket thresholds have increase to $47,000 and $100,000. These are increases of $10,158 (28 per cent) and $20,375 (26 per cent) compared to the 2023 thresholds of $36,842 and $79,625.
Combining the changes to the Basic Personal Amount and tax brackets, taxpayers will save up to an additional $1,386 in 2024 with these threshold improvements versus savings under indexing alone.
| Tax Rate | 2023 Taxable Income | 2024 Taxable Income |
|---|---|---|
| 10.80% | first $36,842 | first $47,000 |
| 12.75% |
over $36,842 up to $79,625 |
over $47,000 up to $100,000 |
| 17.40% | over $79,625 | over $100,000 |
