Proposed legislation would create jobs, support economic growth, says Howard

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Proposed legislation by the provincial government required to implement Budget 2014, including new tax credits would support the creation of jobs, was introduced on Tuesday by Finance Minister Jennifer Howard.

"Our budget bill includes new and expanded tax credits to help create good jobs for Manitobans," said Howard in a release.  "A new tax credit is being introduced to support business succession planning, helping retiring entrepreneurs who want to transfer their business to a new owner."

The release states that the proposed new Employee Share Purchase Tax Credit would offer new owners, including current employees, support to buy in and own a portion of a business to support business growth and avoid business closures.  Those who buy shares, such as current employees, from a registered employee share ownership plan would qualify for the 45 per cent tax credit.

The proposed tax credit would also support the development of worker co-operatives and employee participation in their employer's business.

With files from Manitoba news release