Manitoba New Democrats Promise to Enhance Renters’ Tax Credit and Limit Rent Increases
Manitoba New Democrats are promising to increase a tax credit for renters and make it harder for landlords to raise rents above the province’s annual guideline.
The province currently offers renters a tax credit of up to $525 a year and NDP Leader Wab Kinew says his party would raise it to $700 if it wins the election slated for Oct. 3.
Kinew adds an NDP government would also reduce exemptions allowed to provincial guidelines for maximum annual rent increases.
Exemptions are made for units built after 2005 or those that rent for more than $1,615 per month.
Landlords can also apply for exemptions in any building where they have incurred costs that exceed the guideline rate.
Kinew says an NDP government would ensure there are fewer exemptions.
“Right now, the balance is tipped entirely in favor of the landlord and we need to tip the scales back towards … the renter,” Kinew said Friday.
“When the average person hears about rent going up 30 percent, and the justification for that is a new coat of paint, I think the average person thinks well, maybe we could do better than that in Manitoba.”
An NDP government would propose a law to ensure that higher rent increases are tied to real capital improvements being made, he added.
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