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Measure Expected to Save Taxpayers Nearly $1 Million per Year: Fielding
The Manitoba government is eliminating the provincial sales tax on the preparation of wills beginning on Jan. 1, 2020, announced Finance Minister Scott Fielding.
“As part of the 2020 Tax Rollback Guarantee, we are removing the sales tax from the preparation of wills,” said Fielding. “Many Manitobans do not have wills and reducing the cost may encourage more people to get one. Our government remains committed to making Manitoba’s tax environment more fair and affordable.”
The measure exempts from the provincial sales tax the preparation of wills, health-care directives and powers of attorney when created in conjunction with a will or a health-care directive. This exemption is estimated to save taxpayers nearly $1 million per year, Fielding said.
The minister noted the 2020 Tax Rollback Guarantee, which was announced in the province’s 100-Day Action Plan and speech from the throne, will also include the elimination of probate fees, effective July 1, 2020.
“By removing probate fees and the provincial sales tax to prepare a will, we will save the average family estate more than $2,600 in unnecessary death taxes,” said Fielding.
The 2020 Tax Rollback Guarantee will be fully implemented over the next four years.
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