In Charlottetown, Premier Dennis King announced some badly-needed assistance for Islanders coping with the soaring cost of living: a one-time increase to the PEI Sales Tax Credit in January 2023.
Individuals with income up to $100,000 will receive an additional $500. Single parents with combined income up to $100,000 will receive a total increase of $1,000 ($500 for each spouse or $500 for a single parent and $500 for the first dependent child). Couples and single parents with incomes between $100,000 and $145,000 will receive a prorated amount. Single individuals with incomes between $100,000 and approximately $125,000 will also receive a prorated amount.
The Canada Revenue Agency (CRA) administers the PEI Sales Tax Credit. No application is required. Individuals must ensure their annual income tax return is filed in order to receive the benefits.
