Rebate

Aerospace and Defence Tax Rebate

Amount:

No Fixed Amount

Type of Program:

Rebate

Description:

The Aerospace Tax Holiday provides all eligible aerospace and defence-related companies a full rebate annually on all corporate income tax paid to the province for operations conducted in Prince Edward Island. There’s also a full rebate annually of all real property tax attributable to ownership or rental of facilities in Prince Edward Island.

Comments on Funding:

The incentive is a tax rebate.

When It Ends:

Ongoing

Deadline:

December 2022

Eligibility:

Applicants must be:

new or existing aerospace firms operating in the Province of Prince Edward Island,
engaged in aviation or aerospace/defence-related businesses, which may include, but is certainly not limited to, original equipment manufacturers, strip and paint shops, repair and overhaul operations, training and various aviation support businesses,
aerospace companies in eligible activities that have 20 or more employees or a payroll in excess of $700,000,
aerospace companies engaged in eligible activities that categorize them in the “Aerospace and Defence” sector as defined by the Province of Prince Edward Island.

Program Contact:

Aerospace and Defence Tax Rebate

Freight Transportation Fuel Efficiency Program (FTFEP)

Amount:

No Fixed Amount

Type of Program:

Rebate

Description:

The Freight Transportation Fuel Efficiency Program (FTFEP) is an application-based grant program that provides rebates to retrofit existing heavy-duty trucks and trailers registered and plated in Newfoundland and Labrador, to reduce fuel consumption and greenhouse gas emissions. This includes anti-idling equipment (e.g., auxiliary power units) and aerodynamic technologies (e.g., trailer skirts to reduce fuel consumption).

Comments on Funding:

Funding for vehicles is as follows:

30% up to a cap of $4,000 per device for auxiliary conventional power units,
50% up to a cap of $6,000 per device for auxiliary electric power units,
30% up to a cap of $3,000 per device for cabin heaters/coolers.

Funding for trailers is as follows:

30% up to a cap of $3,000 per device foot side skirts and boat trail (class 8 only),
30% up to a cap of $5,000 per device for diesel-electric refrigeration units,
30% up to a cap of $7,500 per device for electric refrigeration units.

When It Ends:

Ongoing

Deadline:

March 31, 2022

Eligibility:

The applicant must:

be a private sector, for-profit organization, including carriers and owner-operators,
be a municipal government established by or under provincial statute or a municipal organization,
be a not-for-profit organization,
be an Indigenous government or organization,
be a public sector body or board established under provincial legislation,
be the registered owner or lessee of the eligible vehicle or trailer for which upgrades are sought, and the registration must be valid at the time of application. The applicant must have the legal authority to modify the vehicle or trailer for which the fuel saving device(s) is to be installed (proof of ownership or permission of the lessor will be required).
have a satisfactory audited or satisfactory unaudited carrier safety rating,
consent to an audit of the vehicle or trailer for which upgrades are sought,
consent to provide data to the Department relating to fuel consumption, vehicle/trailer operational profile (e.g., kilometres driven) and GHG emissions for a one-year period after the fuel saving device(s) has been installed.

Application Steps:

The applicant must:

submit a signed and completed application form with supporting documentation by email at climatechange@gov.nl.ca Or by regular mail to the Department of Municipal Affairs and Environment, the Climate Change Branch.

obtain an Approved Application Letter before installing fuel saving devices in these cases.

Documentation Needed:

The applicant must submit:

the application form,
purchase and/or installation quote(s) from a dealer or vendor for the fuel saving devices for which a rebate is sought, including manufacturer and model number of fuel saving devices. The applicant’s name must be the same on both the application form and the quote provided.
copy of valid vehicle registration (for each tractor/vehicle and trailer to be retrofitted),
proof of tractor/vehicle or trailer ownership or, in the case of a lessee, proof that the applicant has authority to modify the tractor/vehicle or trailer by the lessor for each tractor/vehicle and trailer to be retrofitted,
copy of valid Commercial Motor Vehicle Inspection Certificates (for each vehicle or trailer to be retrofitted),
copy of the companies’ short carrier profile, if applicable.

Other Things to Note:

The FTFEP will be implemented over three fiscal years (2019/20-2021/22) by the Department of Municipal Affairs and Environment (MAE). This Program is supported by a total of $3.2 million in joint provincial and federal funding through the Low Carbon Economy Leadership Fund, with $1.73 million from the Provincial Government and $1.47 million from the Federal Government.

Program Contact:

Freight Transportation Fuel Efficiency Program (FTFEP)

pdf-ftfep-program-guidelines.pdf

Small and Medium Industry Incentives – Industrial Energy Efficiency Program, Prescriptive Incentives

This program is currently closed.

Amount:

$60,000

Type of Program:

Rebate

Description:

The Prescriptive Incentive option offers rebates to small and medium scale industry businesses on select energy efficiency measures from a defined list that includes per unit incentives for simple one to one retrofits. Measures include: lighting, compressed air equipment and motor drive upgrades.
The Industrial Energy Efficiency Program has funding available for both electric and non- electric saving opportunities.

Comments on Funding:

Funding is available for eligible products at set rebates, up to a maximum of $40,000 for small industries and up to a maximum of $60,000 for medium industries.

When It Ends:

Ongoing

Deadline:

Rolling deadline
March 31, 2022

Eligibility:

The applicant must:

be a small scale industry, for-profit businesses with a small industrial rate code and a consumption of less than 500 MWh per year,
be a medium scale industry, for-profit businesses with a small industrial rate code and a consumption of 500 MWh or more per year,
operate in Prince Edward Island.

Application Steps:

Applicants must complete and submit the online application form.

Other Things to Note:

The Industrial Energy Efficiency Program for large industries and the Industrial Energy Efficiency Program for small and medium industries were merged under The Industrial Energy Efficiency Program. The link is not valid.

Program Contact:

Small and Medium Industry

COVID-19 Wage Rebate for Impacted Industries

Amount:

No Fixed Amount

Type of Program:

Rebate

Description:

The COVID-19 Wage Rebate for Impacted Industries provides a 25 per cent wage rebate on payroll for businesses of impacted industries, such as full-service restaurants and fitness centers, for the period of January 19 to 31, 2022.

Comments on Funding:

The funfing is a wage rebate calculated at 25 per cent of payroll costs to a maximum of $25/hour for PEI employees, including salary/wages and MERC’s.

When It Ends:

Ongoing

Deadline:

March 21, 2022

Eligibility:

Applicants must:

be businesses that closed to in-person services restricted by the enhanced public health measures introduced on January 18, 2022,
be operating in PEI,
be physically located on PEI,
be operated by a PEI franchiser, if a franchise.

Application Steps:

submit a completed online application,

make a Request for Payment, if the application was determined to be eligible.

Documentation Needed:

Applicants must submit:

1
appropriate payroll documentation to validate payroll costs,
2
the Active Canada Revenue Agency (CRA) Business Number,
3
the estimated number of employees the business will be claiming,
4
a description of business operations,
5
a description of how the enhanced public health measures impacted the business,
6
a monitored email address and contact information,
7
the completed online application.

Program Contact:

COVID-19 Wage Rebate for Impacted Industries

Equity Investors Incentive

Amount:

No Fixed Amount

Type of Program:

Rebate

Description:

The Equity Investors Incentive provides new and expanding businesses in Prince Edward Island with a tool to encourage and attract private sector investment. The program provides a non-repayable incentive to investors to encourage investment in an approved Prince Edward Island-based investee business by increasing the return-on investment to investors.

Comments on Funding:

Funding is in the form of a direct rebate to investors (individuals or companies) and is calculated at up to 20 percent of the purchase price of the equity investment in the investee company. The maximum investors’ rebate for all eligible investors will not exceed $200,000 per approved investee company.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

An eligible investee company must:

be a taxable, private Canadian corporation,
be registered to do business in Prince Edward Island,
have its head office and its primary business operations in Prince Edward Island,
have been in operation in PEI for a minimum of one year,
be a provider of exportable goods or services in one of the following strategic sectors: bioscience, aerospace and defense, advanced manufacturing and processing, renewable energy and clean technology
information and communications technology, creative and cultural industries (first-of-its-kind exportable goods or services in other sectors may be considered),
pay at least 75% of its payroll to employees residing in Prince Edward Island and must have ewer than 50 employees,
have assets less than $10 million,
ensure compliance with securities legislation,
have a well-developed business plan and demonstrate appropriate use of funds raised to support expansion and/or ongoing operations in Prince Edward Island,
not have any defaulted outstanding debt obligation on file in the Government of Prince Edward Island Central Default Registry.

Eligible investors include: any Canadian person, Canadian-controlled private corporation or other Canadian-controlled company that is at arm’s length to the investee company as defined under Section 251 of the Income Tax Act (Government of Canada).

Application Steps:

Applicants:

must submit the online application form,

must accept the letter of offer forwarded to them which shall create a contract between Innovation PEI and the applicants.

Other Things to Note:

Equity Investor Incentive Guidelines will be available soon upon approval.

Program Contact:

Equity Investors Incentive