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Financial Information
Prince Edward Island

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Atlantic Provinces -> Prince Edward Island Tax

Prince Edward Island Tax

PEI/Federal tax brackets and marginal tax rates

Canadian tax calculator

Personal tax credits

Dividend tax credit

 

PEI Government Links

PEI Harmonized Sales Tax (HST) - starts April 1, 2013

PEI statutes and regulations

Legislative Assembly (access to bills)

 

Health Care in Prince Edward Island

Department of Health and Wellness

Medicare Services / Health Card

Pharmacare

 

Canada Revenue Agency (CRA) Links

PE Personal income tax and benefit package

PE Corporation income tax

GST/HST Info Sheets GI-135 to GI-153 re PEI Harmonized Sales Tax - scroll down the page to find them

 

Government benefits, programs and services for PEI residents

PEI Budgets

2016 Budget - April 19, 2016 - on PE government website

   - HST will increase from 14% to 15% effective October 1, 2016 - see 2016 Sales Tax Rates.
   - Real Property Transfer Tax rate payable by first-time home buyers will be eliminated (is currently 1%) effective October 1, 2016
   - Non-Refundable Tax Credit amount increases for 2016:
          - Basic personal amount increased from $7,708 to $8,000
          - Spousal amount increased from $6,546 to $6,795
          - Eligible dependant amount increased from $6,294 to $6,795 (now same as spousal amount)
   - Low-Income Tax Reduction amounts have been increased.
   - Non-eligible dividend tax credit was left at 21% of gross-up.
   - Refundable Sales Tax Credit amounts increases for the 2016/17 year:
          - Base increased from $100 to $110
          - Spouse or equivalent to spouse increased from $50 to $55
          - Supplement increased from $50 to $55

See Bill 32 An Act to Amend the Income Tax Act, on the PEI Legislative Assembly website.  Bill 32 received Royal Assent on May 13, 2016.

2015 Budget - June 19, 2015 - on PE government website

  - low income tax reduction threshold increased from $15,000 to $17,000, levels of basic credits to be adjusted (no detail yet provided)
  - tax on tobacco to increase by 2.5 cents per cigarette and other tobacco by 4.0 cents per gram

2014 Budget - April 8, 2014 - on PE government website (no tax changes)

2013 Budget - March 27, 2013 - on PE government website

Several changes are being implemented in conjunction with the implementation of the HST effective April 1, 2013:

  - Small business tax rate increases to 4.5% from 1% on April 1, 2013.
  - Dividend tax credit for non-eligible dividends will be adjusted, as per Bill 47, from 5% of gross-up to 14.5% of gross-up.
  - Provincial tax on gasoline will be reduced by 2.7 cents to 13.1 cents per litre.
  - Taxes on tobacco will be adjusted
  - A provincial refundable tax credit will be introduced for low and modest-income Islanders, beginning in July 2013.

2012 Budget April 18, 2012 - on PE government website

- HST to be introduced effective April 1, 2013 with a total rate of 14%, compared to the current combined sales tax rate of 15.5%.  The 9% provincial portion of the HST will not be applied to home eating oil, or children's clothing or footwear.  An enhanced refundable tax credit will be created for Islanders with low to moderate incomes.  See HST on the PE website.

- new $500 refundable income tax credit for volunteer firefighters with at least 200 hours of volunteer service per year

2011 Budget  April 6, 2011 - on PE government website (no income tax changes)

2010 Budget - on PE government website (no income tax changes)

2009 Budget - on PE government website (no income tax changes)

2008 Budget

2007 Budget

Revised: December 20, 2016

 

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