Canada: Tax measures in 2021 budget (Prince Edward Island)
Canada: Tax measures in Prince Edward Island budget
Prince Edward Island delivered its 2021 provincial budget on 12 March 2021.
The budget would reduce the small business income tax rate to 1% (from 2%), effective 1 January 2022.
Although the budget does not include any changes to individual (personal) income tax rates, it would increase the basic personal income tax exemption to $11,250* (from $10,500) and would increase the low-income tax reduction threshold to $20,000 (from $19,000), effective 1 January 2022.
Read a March 2021 report prepared by the KPMG member firm in Canada
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