Atlantic Canada Business Grants

Specialized Labour Tax Credit

Amount:

No Fixed Amount

Type of Program:

Tax Credit

Description:

The Specialized Labour Tax Credit provides an incentive for workers with specialized expertise or skills not yet available in Prince Edward Island to accept employment here.

Comments on Funding:

The Specialized Labour Tax Credit applies to personal income tax paid to a maximum of 17% on the eligible income earned by an eligible individual. The credit is effective for one year from the employment start date. 

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • a Prince Edward Island company,
  • active in a strategic sector such as: export-focused manufacturing and processing, interactive, information and communication technology, aerospace, bioscience, renewable energy,
  • whish to hire a specialized worker who migrates to the province for a specific position. The employer must demonstrate that the position was previously advertised in local print news media and could not be filled from the existing PEI labour pool.

Application Steps:

The applicant/company must:

1

apply to Innovation PEI for to Innovation PEI for a Specialized Labour Tax Credit certificate. If the application meets the criteria and the employee is approved, Innovation PEI will issue a Specialized Labour certificate to the eligible employee.

2

apply for the tax credit before making an employment offer. The company will not be approved for both the Specialized Labour Tax Credit and the Innovation and Development Labour Rebate for the same position.

To claim the rebate, the employee submits the certificate and a copy of the Notice of Assessment and T4 to Innovation PEI.

Documentation Needed: 

The applicant must submit:

  • the compiled application form,
  • a business and a marketing plan project,
  • a feasibility or market study,
  • a competitive analysis,
  • a Resume,
  • the consultant’s proposal(s) and the study’s terms of reference, if the application concerns a study.

Program Contact:

Apply for Specialized Labour Tax Credit

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *