Skip to main content

February 25, 2022

Tax Highlights From the 2022 PEI Budget

Finance Minister Darlene Compton tabled the 2022/23 Prince Edward Island provincial budget on February 24, 2022.

The budget projects a deficit of $92.9 million for the upcoming 2022/23 fiscal year, decreasing to $51.9 million for 2023/24 and $32.1 million for 2024/25. The forecast deficit for the almost completed 2021/22 fiscal year now stands at $26.5 million, which is $85.6 million below the projected deficit of $112.1 million. On the income tax side, there were no changes to personal income tax rates.

However, the budget includes an increase to the basic personal exemption, a new tax on vaping products, an increase to the tobacco tax and an increase to Island bursaries.  Read more here.

This communication is published by CI Global Asset Management (“CI GAM”). Any commentaries and information contained in this communication are provided as a general source of information and should not be considered personal investment advice. Facts and data provided by CI GAM and other sources are believed to be reliable as at the date of publication.


Certain statements contained in this communication are based in whole or in part on information provided by third parties and CI GAM has taken reasonable steps to ensure their accuracy. Market conditions may change which may impact the information contained in this document.


Information in this communication is not intended to provide legal, accounting, investment or tax advice, and should not be relied upon in that regard. Professional advisors should be consulted prior to acting based on the information contained in this communication.


You may not modify, copy, reproduce, publish, upload, post, transmit, distribute, or commercially exploit in any way any content included in this communication. You may download this communication for your activities as a financial advisor provided you keep intact all copyright and other proprietary notices. Unauthorized downloading, re-transmission, storage in any medium, copying, redistribution, or republication for any purpose is strictly prohibited without the written permission of CI GAM.


CI Global Asset Management is a registered business name of CI Investments Inc.