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PEI 2008 Budget TaxTips.ca
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Atlantic Provinces   ->   Prince Edward Island   ->   PEI Budgets   ->  PEI 2008 Budget

Prince Edward Island 2008 Budget - April 23, 2008

See the government of Prince Edward Island 2008 Budget Address.

There were no new tax changes announced in the 2008 budget.  See the 2007 budget page for previously announced tax measures which affect 2008 income tax.

Students

Every first-year Island student entering a provincially-funded post-secondary institution to attain a degree or diploma will receive up to $2,000 from the George Coles Bursary.

Special education funding is being increased, and the government will begin the process of eliminating curriculum-based user fees.

Federal tax changes

Federal budget 2008 income tax measures affecting taxable income and certain tax credits that automatically affect provincial taxes in all provinces and territories except Quebec:

bulletnew Tax-Free Savings Accounts (TFSA)
bulletchanges to RESPs
bulletreduction of gross-up amount for dividends eligible for the enhanced dividend tax credit.  See dividend tax credit page.
bulletincrease in maximum Northern Residents deduction beginning in 2008
bulletcapital cost allowance changes
bulletexpansion of list of expenses eligible for medical expense tax credit, effective 2008

Revised: July 21, 2021

 

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