An accountant in Steinbach has explained a couple of the tax cuts that were announced in the Manitoba budget Monday. Bruce Penner is a partner at H & R Block. He says the increase in the personal tax exemption of $1,010 next year and again in the following year, will increase your take-home pay by about 100 dollars per year. Penner adds for people who are on a regular salary, they'll see a small change in their paycheques starting next January.

Bruce Penner, a partner at H & R Block in Steinbach."There will be a tiny increase in your net pay of a couple of dollars a week starting in 2019 when the major portion of this benefit starts to kick in and then another two dollars a week the following year."

Penner has also crunched the numbers regarding an increase in the small business income tax threshold which is being increased from $450,000 to $500,000.

"What Manitoba does in order to support small businesses is they have said, up until a certain threshold, you literally pay zero dollars of corporate income tax to Manitoba. After that level, corporations pay 12 per cent. And so by increasing this (threshold) by $50,000, for businesses that make half a million dollars a year in corporate profit, this will save them $6,000 a year because on the first half a million dollars of corporate income, the provincial government doesn't ask you to pay any tax. After that, it moves to the 12 per cent level."