close
Share with your friends

Highlights of the 2020 P.E.I. budget

Highlights of the 2020 P.E.I. budget

Prince Edward Island's Finance Minister, Darlene Compton, delivered the province’s 2020 budget on June 17, 2020.

1000

Related content

​The budget anticipates a deficit of $172.7 million for 2020-21 and projects a deficit of $69.5 million for 2021-22. In addition, the budget reduces the province's small business tax rate to 2% (from 3%), effective January 1, 2021, but does not include any new changes to personal tax rates. The budget also introduces measures to expand provincial gas tax exemptions for farmers, introduces a $500 non-refundable wellness tax credit for families with children, and increases the province's basic personal income tax amount to $10,500 (from $10,000).

Download this edition of the TaxNewsFlash to learn more.

© 2020 KPMG LLP, an Ontario limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

Connect with us

 

Want to do business with KPMG?

 

loading image Request for proposal