Type of Program:
The Share Purchase Tax Credit provides a tax rebate to a Prince Edward Island personal individual, aged 19 or over, who invests in an eligible Prince Edward Island company. The company issuing the eligible share must apply for the Share Purchase Tax Credit.
Comments on Funding:
Funding is a tax rebate on Prince Edward Island personal income tax in the amount of 35% of the value of an eligible investment in an eligible PEI corporation.
The maximum credit that an individual may claim in any taxation year is $35,000.
When It Ends:
The applicant must:
The applicant/company must:
apply to Innovation PEI for a Share Purchase Tax Credit certificate by completing the Business Development Application (pdf or online). If the application meets the criteria, Innovation PEI will issue a Share Purchase Tax Credit certificate to the company, setting out the cost of the qualified share and other information.
provide the certificate to the investor upon receipt of compensation for the share.
The investor can claim the rebate by submitting the Share Purchase Tax Credit certificate with the investor's notice of assessment to Innovation PEI. Application must be submitted before any financial or legal commitment is made on the project.
The applicant must submit: