Prince Edward Island corporate investment tax credit

Corporations that have acquired qualified property are eligible for this credit. Apply the credit to reduce the Prince Edward Island tax payable.

You can carry back an unused credit to the three previous tax years from the tax year that you acquired the property. You can also carry forward the unclaimed credit to the seven tax years that follow the tax year in which you acquired the property.

The credit can be renounced but must include all current year credits. Partial renouncements are not permitted. The renouncement must be filed on or before the filing due date of the income tax return.

Claiming the credit

File a completed Schedule 321, Prince Edward Island Corporate Investment Tax Credit, with your return. See the schedule for more details.

On line 530 of Schedule 5, Tax Calculation Supplementary – Corporations, enter the amount of the credit you are claiming.

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