Changes to your taxes in 2025: At the pump, at home and on your paycheque

Manitoba Tax Changes for 2025: What You Need to Know

The new year brings with it inevitable tax changes. Here's a breakdown of how federal, provincial, and municipal taxes will impact Manitobans in 2025:

Federal Tax Changes:

• Increased Basic Personal Amount: The non-refundable tax credit rises by $424 to $16,129.
• Adjusted Income Tax Brackets: The ceilings for the first four income tax brackets have been increased.
• Canada Pension Plan (CPP) Contributions: The maximum pensionable earnings and maximum contribution increase slightly.
• Employment Insurance (EI) Premiums: The EI tax rate decreases, but the maximum insurable amount increases, leading to slightly higher taxes for both workers and employers.
• Carbon Tax Increase: The carbon tax will rise to $95 per tonne on April 1st, resulting in a 3.3 cent per litre increase in gasoline taxes.

Manitoba Tax Changes:

• Return of Fuel Tax: The provincial gas tax of 12.5 cents per litre will be reinstated as of January 1st.

Note: This summary provides a concise overview of the key tax changes for Manitobans in 2025.

Disclaimer: This information is for general knowledge and should not be considered professional tax advice. Consult with a qualified tax professional for personalized guidance.

This rewritten version is more concise and focuses on the key changes for Manitobans. It also includes a disclaimer to emphasize that this information is for general knowledge only.