July 1 2023 tax schedule update Manitoba

Hi MB bookkeeper,

I appreciate you reaching out here, to ensure accuracy in the latest QuickBooks Payroll tax table.  I feel you would benefit from a personal interaction with a member of our QuickBooks Desktop Support team.  They'll have the ability to review this in more depth and bring it to the attention of our Development Team if necessary.

Please don't hesitate to reach back out if you have other questions.  We'd be happy to help!

I have the same question - looks incorrect to me also

This is definitely wrong. It only increased to $15,000. QuickBooks please correct ASAP.

I've done research, and the amount in QB is correct until December 2023.  Here's why:

The MB gov't just passed the budget  a short while ago(how could we miss that as the advertisements are everywhere), and they had it in the budget that the exemption would go to $15,000 for 2023.  Because the budget just passed, they couldn't change it for January.  Consequently, all the payroll programs are making an adjustment for July.  As follows:

It was supposed to be $15,000 as of Jan. 1st :

15,000 - 10,855 = $4,145.00

They are making up for the missed tax savings from July onwards and therefore the exemption will be higher for six months:

$15,000 + $4,145.00 = $19,145.

That's interesting. Can I ask where you found that? I searched this morning and everything I came across says $15,000. 

Hello - yes definitely.

My daughter coincidentally works in HR in a large corporation in Wpg.  They have a payroll with about 250 on it.  Their payroll system (not Quickbooks) also updated to $19,145 and the CFO talked with their payroll provider and was told that the correction was for the first six months of 2023.  

Yeah they're making up for half of the year it being set at $10,855. HOWEVER, important to note if an employee is just joining your organization halfway through the year, it needs to be set at $15,000 or you won't be deducting enough tax.

Hey good point!  Hopefully that would have occurred to me sooner than later.  

Agree - glad you mentioned that as I may not have thought to over ride the default.

Deb