Province of Manitoba Rental Housing Construction Tax Credit

As outlined in the 2024 provincial budget, the Province of Manitoba announced a Rental Housing Construction Tax Credit.  This tax credit aims to incentivize the construction of new market-rate rental units and affordable units. Specifically, it offers $8,500 per market-rate units and $13,500 per affordable units maintained as such for at least ten years.
 
To qualify, construction must commence on or after January 1, 2024. The tax credit is fully refundable for non-profit organizations. For other housing developers, $8,500 is fully refundable for all units, with an additional $5,000 non-refundable credit available over ten years for affordable units.
 
While the Rental Housing Construction Tax Credit announcement has been made, the province is currently finalizing the details and specifics of the program. They are aiming to make additional eligibility criteria and further details available shortly.
 
In the meantime, please do not hesitate to email any questions or concerns to MBRentalConstructionTaxCredit@gov.mb.ca.