Taxation Division 

Insurance Corporations Tax

Every insurer or special broker that provides insurance under a contract of insurance must pay the insurance corporations tax.
 
The tax rates are as follows: 
  • 2% of the insurer's net Manitoba premiums under contracts of life insurance, and contracts of accident and sickness insurance;
  • 3% of the insurer's net Manitoba premiums under other contracts of insurance.
In addition to the above tax rates, an insurer must pay a tax equal to 1.25% of the net Manitoba premiums payable to the insurer in respect of certain contracts of property insurance.  These amounts are to be deposited to the Fires Prevention Fund.

Additionally, a person who enters directly into a contract of insurance with an unlicensed insurer without the transaction being facilitated through a Special Broker must pay the insurance corporations tax on that insurance contract.

The insurance purchaser's return is available by clicking on the Manitoba Tax Forms link below.
 
Manitoba Tax Publications