Posts Tagged Manitoba

Some Manitoba Retail Sales Tax Facts

Since April 2007 .. crafters, hobbyists, and other non-commercial home businesses with gross annual sales of less than $10,000 .. is not required to register to collect Manitoba Retail Sales Tax. This means that people would not be using their PST number for purchases of products for resale, nor would they collect sales tax on the sales of their products.

Other than that .. it’s been pretty harsh and a strict road for Manitobans to keep compliant with the Manitoba Retail Sales Tax branch. The Goods and Services Tax Rate has decreased from 7% down to 5% in 2008, but there does not seem to be any reduction planned for Manitoba retail sales tax rates.

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Funding for Manitoba Announced Under Community Development Trust

The following News Release or Speech has just been posted on the Finance Canada Site.

Winnipeg, March 6, 2008
2008-025

The Honourable Jim Flaherty, Minister of Finance, was joined today by the Honourable Gary Doer, Premier of Manitoba, to announce that the Government of Canada will provide Manitoba with $41.9 million as part of the new national Community Development Trust.

………… (read the rest of the article if you are interested in this news or from Manitoba)

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Accounting For Beer, Liquor and Wine Sales

Background

In Manitoba, if you are a licensed establishment and can sell Beer, Liquor and Wine .. you need to account for the purchases in the accounting records. It can be difficult, because most of the time (I believe), the Manitoba Liquor Control Commission (MLCC) holds on to preauthorized blank cheques .. the hotel or establishment just places an order, and a cheque is issued, or automatically debited out of the company’s bank account. There are usually invoices emailed to the business and just packing slips included with the shipments.

In Manitoba, Vendors selling Beer have a special price. The price is preset, plus GST and plus GST .. and then a refundable bottle deposit price is added. Individuals can return the empty beer bottles and receive that bottle deposit back. Beer drinkers do not just have to bring back the bottles purchased at one particular establishment, they can return it to any vendor that will accept returns. Usually, the MLCC (I believe) pays these vendors an extra 2 cents per bottle as a handling fee. Believe me .. it can start to get quite complicated - especially if you are “in tune” with what is really happening and monitoring your gross profit percentages.

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High taxes make province less attractive: report

From the Brandon Sun Online - High taxes make province less attractive: report

Monday, October 3rd, 2005
By: Mia Rabson

Manitoba has some of the highest taxes in Canada and has lost its competitive edge, a new report shows.

The Chartered Accountants of Manitoba today released the first instalment of The MB Check-Up, a three-part report outlining Manitoba’s attractiveness within Canada as a place to invest, live and work.

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