Month in Review – Prince Edward Island

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Month in Review – Prince Edward Island

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LAWS & ANNOUNCEMENTS

Payroll

Jan 1: The Prince Edward Island Basic Personal Amount (BPA) provincial income tax exemption officially increased from $14,650 to $15,000, effective for the 2026 tax year.

Action Point: Find out about the 8 important new payroll changes that will affect your current year T4 filings and 2026 source deductions.

Training

Jan 13: Under a newly renewed 4-year funding agreement, PEI’s Mi’kmaq Confederacy will receive $1.67 million for training and mentorship via 2 SkillsPEI programs: i. The project-based program providing personalized mentorship to develop transferable skills using hands-on experience through social enterprises; and ii. The Workforce Essential Skills program supporting adult learners within Lennox Island First Nation.

New Laws

Jan 9: Prince Edward Island company Atlantic Beef Products Inc. will receive up to $2,256,786 from the Kosher and Halal Investment Program, which helps federally regulated beef and veal processing establishments adopt technologies and processing equipment to increase efficiency and profitability of kosher and/or halal production. ABPI will use the money to implement advanced technologies and packaging processes at its Albany facility.

New Laws

Dec 22: The Atlantic Canada Opportunities Agency’s Regional Economic Growth through Innovation program announced that it’s providing over $2.1 million in

repayable federal support for 7 businesses in PEI’s tech sector, including a $675,000 loan to Discovery Garden to support the company's digital repository product evolution and development.

Workers’ Compensation

Feb 28: That’s the final day for Prince Edward Island employers to submit their workers’ compensation payroll data reports listing their actual 2025 payroll cost figures and projected expenses in 2026 to the WCB to avoid the risk of late fees, interest, and penalties.

Action Point: Look up the 2026 workers’ compensation premium rates in each part of Canada.