DIRECT FINANCIAL ASSISTANCE

PEI Labour Rebate (PLR): Program that helps support Island businesses through a refundable labour rebate on incremental job creation equal to 25% of eligible salaries and wages. Assistance is available to companies who manufacture, process, or develop goods or services primarily for export and operate in a targeted strategic sector. The PLR is applied to a maximum of one year of eligible labour expenses. Eligible jobs must be full-time positions with a gross wage of at least $35,000.

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TAX CREDITS/REBATES 

Corporate Investment Tax Credit:  Non-refundable tax credit of 10% on eligible capital investments made in the province.

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Enriched Investment Tax Credit: Tax credit created to complement the PEI Corporate Investment Tax Credit. The credit is available to companies who manufacture, process, or develop goods or services primarily for export and operate in a targeted strategic sector. It provides a 25% corporate tax credit on costs associated with qualified manufacturing and processing equipment.

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‍Marine Technology Tax Rebate:  Tax rebate for up to 10 years are available for projects in the advanced marine technology industry for provincial corporate income taxes as well as for property taxes on industry specific facilities.‍

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Share Purchase Tax Credit: This program promotes investment in certain companies locating in PEI. It provides a 35% personal income tax rebate of the value of an eligible investment in qualified PEI corporations, up to a maximum of $35,000.

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Last Updated: July 2023