Saturday, 20 Apr 2024

Winnipeg business cashing in on provincial child care tax credit

The province has approved three quarters of a million dollars in tax credits for a private Winnipeg business creating new child care spaces.

On Monday, government officials announced the first project eligible for the child care centre development tax credit, which was included in the 2018 budget and is aimed at creating more care spaces within workplaces.

The project is being built by Qualico in Sage Creek, and the province will provide them with $740,000 for 74 new child care spaces.

“We think it’s an innovative way to create spaces for Manitoba families,” finance minister Scott Fielding said. “We hear quite clearly that it is very much needed in our communities.”

The site of a new child care centre in Sage Creek, expected to open in spring 2019.

Eligible corporations that develop a child care centre through construction or renovations will receive a tax credit worth $10,000 for each newly-created space. This includes a minimum of 74 spaces for infant and/or preschool children in Winnipeg, or 52 spaces in rural Manitoba.

Manitoba Families Minister Heather Stefanson said only five per cent of Manitoba’s child care spaces are private-sector spaces, which lags well behind other provinces.

Fielding said they have room for 200 spaces at this point, but that may change over time depending on the popularity. He said they have already been receiving interest from other businesses.

Interested businesses can go to the province’s website for more info on submitting applications.

Source: Read Full Article

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