Prince Edward Island's budget implementation bill received Royal Assent on 12 July 2019, thereby several income tax measures that were introduced in the 2019 budget have been enacted.
Among the tax measures in the legislation are provisions providing for a reduction of the small business tax rate to 3.0% (from 3.5%), effective 1 January 2020; and increases to the personal amount and the low income threshold for the province’s individual income tax.
Read a July 2019 report prepared by the KPMG member firm in Canada
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