This is income tax calculator for Prince Edward Island residents for year 2012-2023. Current tax rates in Prince Edward Island and federal tax rates are listed below and check.
IMPORTANT: This tax calculator is used for income tax estimation. Please use Intuit TurboTax if you want to fill your tax return and get tax rebate for previous year. It is free for simple tax returns or gives you 15% discount for more complicated tax returns.
Here is list of free tax return software to file your tax return.
Prince Edward Island income tax rates 2023
In 2023 PE tax rates and brackets were the same as in 2022 tax year. Basic personal amount was increased by 8.4% to $12,750.
| Taxable income | Rate |
|---|---|
| from $0 to $31,984 | 9.80% |
| from $31,985 to $63,969 | 13.80% |
| over $63,969 | 16.70% |
Surtax rate is also the same as it was in 2022. It is 10% for the income tax greater then $12,500.
Federal income tax rates in Canada for 2023
In 2023 Canadian federal income tax brackets and base amount were increased by 6.3%.
Federal personal base amount is $15,000.
| Taxable income | Rate |
|---|---|
| 0 – $53,359 | 15.00% |
| $53,359 – $106,717 | $5,753.85 + 20.50% for income over $53,359 |
| $106,717 – $165,430 | $16,692.24 + 26.00% for income over $106,717 |
| $165,430 – $235,675 | $31,957.62 + 29.00% for income over $165,430 |
| over $235,675 | $52,328.67 + 33.00% for income of $235,675 and over |
Historical Prince Edward Island tax brackets are listed here and historical federal tax brackets and rates can be found here.