Prince Edward Island Finance Minister Heath McDonald delivered the province’s 2018 budget on April 6, 2018.
The budget anticipates a surplus of $1.5 million for the 2018-2019 fiscal year, with anticipated surpluses of $3.1 million for the 2019-2020 year and $4.2 million for 2020-2021. The budget reduces the small business tax rate to 4% (from 4.5%) effective January 1, 2018. The budget also increases the provincial basic personal amount by $500 for each of the next two years and introduces a new investment grant for small businesses.
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