Prince Edward Island 2024, 2023 and 2022 Tax Rates & Tax Brackets

The Prince Edward Island tax brackets and personal tax credit amounts are not increased for inflation.

If Prince Edward Island used indexing, their tax brackets and personal amounts would have been increased for 2023 by an indexation factor of 1.084 (8.4% increase).

The Federal tax brackets and personal tax credit amounts are increased for 2023 by an indexation factor of 1.063 (6.3% increase).

See Indexation of the Personal Income Tax System for how the indexation factors are calculated.

The indexation factors, tax brackets and tax rates for 2023 have been confirmed to Canada Revenue Agency information.

The PEI 2023 Budget increased the 2023 basic personal amount to $12,750, and it will be increased to $13,500 for 2024. There will also be additional tax brackets and revised tax rates for 2024, and the 10% surtax has been eliminated.

TaxTips.ca - PEI 2024 Tax Rates Surtax Eliminated for 2024 and Later Years
2024 Taxable Income	2024 Tax Rates
first $32,656	9.65%
over $32,656 and up to $64,313	13.63%
over $64,313 and up to $105,000	16.65%
over $105,000 and up to $140,000	18.00%
over $140,000	18.75%

2024 Personal Amount	2024 Tax Rate
$13,500	9.65%

Tax Tip: read the article Understanding the Tables of Personal Income Tax Rates, especially if you are trying to compare the rates below to the marginal tax rates in the Basic Tax Calculator or the Detailed Tax Calculators.

TaxTips.ca - Prince Edward Island Tax Rates Before Surtax
2023 Taxable Income	2023 Tax Rates	2022 Taxable Income	2022 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%

TaxTips.ca - Combined Federal & Prince Edward Island Tax Brackets and Tax Rates Including Surtax
2023 Taxable Income (1)	PE 2023 Marginal Tax Rates				2022 Taxable Income (1)	PE 2022 Marginal Tax Rates
	Other Income	Capital Gains	Canadian Dividends			Other Income	Capital Gains	Canadian Dividends
	Other Income	Capital Gains	Eligible	Non-Eligible		Other Income	Capital Gains	Eligible	Non-Eligible
first $31,984	24.80%	12.40%	-0.99%	16.64%	first $31,984	24.80%	12.40%	-0.99%	16.64%
over $31,984 up to $53,359	28.80%	14.40%	4.53%	21.24%	over $31,984 up to $50,197	28.80%	14.40%	4.53%	21.24%
over $53,359 up to $63,969	34.30%	17.15%	12.12%	27.57%	over $50,197 up to $63,969	34.30%	17.15%	12.12%	27.57%
over $63,969 up to $101,104	37.20%	18.60%	16.12%	30.90%	over $63,969 up to $100,223	37.20%	18.60%	16.12%	30.90%
over $101,104 up to $106,717	38.87%	19.44%	16.97%	32.67%	over $100,223 up to $100,392	38.87%	19.44%	16.97%	32.67%
over $106,717 up to $165,430	44.37%	22.19%	24.56%	39.00%	over $100,392 up to $155,625	44.37%	22.19%	24.56%	39.00%
over $165,430 up to $235,675	47.69%	23.85%	29.15%	42.82%	over $155,625 up to $221,708	47.75%	23.88%	29.23%	42.89%
over $235,675	51.37%	25.69%	34.22%	47.05%	over $221,708	51.37%	25.69%	34.22%	47.05%
Marginal tax rate for dividends is a % of actual dividends received (not grossed-up taxable amount). Marginal tax rate for capital gains is a % of total capital gains (not taxable capital gains). Gross-up rate for eligible dividends is 38%, and for non-eligible dividends is 15%. For more information see Prince Edward Island dividend tax credits. Copyright © 2002 Boat Harbour Investments Ltd.
TaxTips.ca Prince Edward Island Surtaxes
2023					2022
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				$101,104	Person with only basic personal amount - surtax starts at taxable income of				$100,223
The surtax is calculated based on the net tax payable after deducting personal tax credits.
Prince Edward Island Basic Personal Amount
2023 Personal Amount	2023 Tax Rate				2022 Personal Amount	2022 Tax Rate
$12,750	9.8%				$11,250	9.8%
Federal Basic Personal Amount
2023 Personal Amount (1)	2023 Tax Rate				2022 Personal Amount (1)	2022 Tax Rate
$15,000	15%				$14,398	15%

(1) See the federal tax rates page for information on the enhanced federal personal amount, which increases the marginal tax rates for taxable incomes in the second highest federal tax bracket. The marginal tax rates in blue above have been adjusted to reflect these changes.

Revised: September 20, 2024