This regulation sets definitions, requires certain officials to report school tax reduction totals to the Minister of Finance for Manitoba, and requires school tax reductions on sold properties to be apportioned between buyer and seller unless their sale agreement says otherwise.
School Tax Reduction Regulation, M.R. 146/2024 The Income Tax Act , C.C.S.M. c. I10 Regulation 146/2024 Registered December 23, 2024 bilingual version (HTML) Definitions 1 The following definitions apply in this regulation. "Act" means The Income Tax Act . («  Loi  ») "school tax reduction" and "school taxes" have the same meaning as in subsection 5.3(1) of the Act. (« réduction des taxes scolaires » et « taxes scolaires ») "tax statement" means a statement of and demand for taxes by which school taxes are levied on a property by a municipality, a local government district or the minister responsible for administering The Northern Affairs Act . (« relevé de taxes ») Report to minister — municipality or local government district 2 Immediately after mailing its tax statements for a year, a municipality or local government district must notify the Minister of Finance for Manitoba in writing of the total of the school tax reductions credited in the statements. Report to minister — Northern Affairs 3 If the minister responsible for administering The Northern Affairs Act assists in preparing tax statements, that minister must notify the Minister of Finance for Manitoba in writing of the total school tax reductions credited in the statements. Reimbursement on receipt of requisition 4 Subject to subsections 5.6(2.1) and (2.2) of the Act, a payment under subsection 5.6(2) of the Act to a municipality or local government district must be made on the receipt by the Minister of Finance for Manitoba of a requisition from the municipality or local government district for the payment. Apportionment of school tax reduction on sale 5 If a school tax reduction is credited in a tax statement for a property that is sold during the year for which the statement is issued, the reduction must be apportioned between the buyer and the seller in the same manner that the school taxes are apportioned between them, unless their agreement of purchase and sale provides otherwise. Coming into force 6 This regulation comes into force on January 1, 2025.