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2013 P.E.I. Budget Substantively Enacted 

Canadian Tax Adviser

 

April 30, 2013

 

A bill to enact Prince Edward Island's 2013 budget received first reading in the provincial legislature on April 23, 2013. Bill 47 includes measures to increase the small business corporate income tax rate to 4.5% (from 1%), effective April 1, 2013. The bill also provides details that were not included in the budget on changes to the province's tax credit for non-eligible dividends.

Since the bill has received first reading and P.E.I. has a majority government, the budget measures are considered substantively enacted for purposes of IFRS and ASPE as of April 23, 2013.

 

For details of the budget measures, see TaxNewsFlash-Canada 2013-14, “Highlights of the 2013 P.E.I. Budget”.

 

For more information, contact your KPMG adviser.

 

 

 

 

Information is current to April 30, 2013. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500

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