On Wednesday during the legislative assembly, Government passed an amendment to the Real Property Tax Act that will roll back provincial residential property taxes to prevent a sharp rise in taxes in 2024. The amendment introduces an owner-occupied residential tax credit to net...
The Rental Unit Property Tax Subsidy has been created to help offset increasing costs for landlords associated with the 2023 rental freeze. The subsidy aims to provide relief on provincial property taxes payable in 2023 and decrease landlord property tax costs. This will allow...
The province has extended the Rental Unit Property Tax Subsidy to help support landlords cover their increased costs without raising rents for Islanders. Since launching in January, 1,017 properties have been approved for the subsidy. “We do not want to see Islanders having to...
The Government of Prince Edward Island is delivering a property tax initiative that will provide a one-time subsidy to offset the 2023 property tax increase and further support Islanders with the cost of living. Similar to the 2022 property tax initiative, the 2023 Property Tax...
The Harmonized Sales Tax (HST) consists of a provincial sales tax of 10 per cent and a federal goods and services tax of 5 per cent for a combined rate of 15 per cent. It is collected from consumers at the point of sale. Information related to supplies subject to HST in PEI...
The Enriched Investment Tax Credit complements the existing PEI Corporate Investment Tax Credit of 10 per cent. The tax credit is applied to certain capital investments made by manufacturing and processing businesses. Who is eligible for Enriched Investment Tax Credit? To be an eligible applicant, a business must be located in Prince Edward Island and: be registered to do business and actively operating in Prince Edward Island; manufactures, processes, or develops goods or services primarily for export; operates within one of these strategic sectors: bioscience aerospace and defence advanced...
Fuel wholesalers and sellers of certain fuel products in PEI must register as an agent to collect carbon levy on fuel sales. You need to apply for registration through Taxation and Property Records Division if you sell fuel in PEI as follows: Wholesale, licensed under IRAC...
This program provides a provincial tax credit on the non-commercial property assessment value to qualifying residents of Prince Edward Island.
Natural Areas Protection Act (NAPA) The goal of this restrictive covenant is to preserve exceptional or rare habitats and areas of special importance to wildlife with more non-intrusive, hands off management. Under this agreement, allowable activities prescribed in property...
Prince Edward Island is a special place. As an Island, it has 1,100 km of shoreline, indented with productive bays and coves, and dotted with rolling sand dunes and soaring red cliffs. Our Island is home to thousands of species of plants and animals and many distinct habitat...