Prince Edward Island -> Tax Rates -> 2015 & 2016 Tax Rates -> PEI 2015 & 2016 Income Tax Rates
Prince Edward Island 2015 and 2016 Personal Marginal Income Tax Rates
The Federal tax rates for 2016 are as per Bill C-2 tabled in December 2015. The Prince Edward Island tax brackets and personal tax credits are not increased for inflation. The Federal tax brackets and personal amount were increased for 2016 by an indexation factor of 1.013. The indexation factors, tax brackets and tax rates have been confirmed to Canada Revenue Agency information.
The 2016 marginal tax rate for non-eligible dividends reflects the rate that is in effect automatically due to the change in the gross-up rate for 2016. The PEI government would have to make legislative amendments in order for this to change.
Please read the article Understanding the Tables of Personal Income Tax Rates.
Prince Edward Island Personal Income Tax Brackets and Tax Rates Before Surtax |
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| 2016 Taxable Income | 2016 Tax Rates | 2015 Taxable Income | 2015 Tax Rates | ||||||
| first $31,984 | 9.8% | first $31,984 | 9.8% | ||||||
| over $31,984 up to $63,969 | 13.8% | over $31,984 up to $63,969 | 13.8% | ||||||
| over $63,969 | 16.7% | over $63,969 | 16.7% | ||||||
Combined Federal & Prince Edward Island Tax Brackets and Tax Rates Including Surtax |
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| 2016 Taxable Income | 2016 Marginal Tax Rates | 2015 Taxable Income | 2015 Marginal Tax Rates | ||||||
| Other Income |
Capital Gains |
Canadian Dividends | Other Income |
Capital Gains |
Canadian Dividends | ||||
| Eligible | Non-Eligible | Eligible | Non-Eligible | ||||||
| first $31,984 | 24.80% | 12.40% | -0.99% | 13.14% | first $31,984 | 24.80% | 12.40% | -0.99% | 12.48% |
| over $31,984 up to $45,282 | 28.80% | 14.40% | 4.53% | 17.82% | over $31,984 up to $44,701 | 28.80% | 14.40% | 4.53% | 17.20% |
| over $45,282 up to $63,969 | 34.30% | 17.15% | 12.12% | 24.25% | over $44,701 up to $63,969 | 35.80% | 17.90% | 14.19% | 25.46% |
| over $63,969 up to $90,563 | 37.20% | 18.60% | 16.12% | 27.64% | over $63,969 up to $89,401 | 38.70% | 19.35% | 18.19% | 28.89% |
| over $90,563 up to $98,316 | 42.70% | 21.35% | 23.71% | 34.08% | over $89,401 up to $98,145 | 42.70% | 21.35% | 23.71% | 33.61% |
| over $98,316 up to $140,388 | 44.37% | 22.19% | 24.56% | 35.68% | over $98,145 up to $138,586 | 44.37% | 22.19% | 24.56% | 35.20% |
| over $140,388 up to $200,000 | 47.37% | 23.69% | 28.70% | 39.19% | over $138,586 | 47.37% | 23.69% | 28.70% | 38.74% |
| over $200,000 | 51.37% | 25.69% | 34.22% | 43.87% | |||||
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Marginal tax rate for dividends is a % of actual
dividends received (not grossed-up amount). |
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Prince Edward Island Surtaxes |
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| 2016 | 2015 | ||||||||
| Surtax rate (included in above rates) | 10% | Surtax rate (included in above rates) | 10% | ||||||
| Surtax is on PE tax greater than | $12,500 | Surtax is on PE tax greater than | $12,500 | ||||||
| Person with only basic personal amount - surtax starts at taxable income of | $98,316 | Person with only basic personal amount - surtax starts at taxable income of | $98,145 | ||||||
The surtax is calculated based on the net tax payable after deducting personal tax credits. |
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Prince Edward Island Basic Personal Amount |
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| 2016 Personal Amount | 2016 Tax Rate | 2015 Personal Amount | 2015 Tax Rate | ||||||
| $8,000 | 9.8% | $7,708 | 9.8% | ||||||
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Federal Basic Personal Amount |
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| 2016 Personal Amount | 2016 Tax Rate | 2015 Personal Amount | 2015 Tax Rate | ||||||
| $11,474 | 15% | $11,327 | 15% | ||||||
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Revised: October 26, 2023