What it costs to live and work in Prince Edward Island: the minimum wage, provincial income tax, sales tax and rent, from official sources, and what they mean for your monthly budget.
| Prince Edward Island | Source | |
|---|---|---|
| General minimum wage | $17.30 an hour | Government of Prince Edward Island, Royal Gazette / Executive Council order EC2026-379: Minimum Wage Order |
| Provincial income tax | 9.5 % to 20 % | Canada Revenue Agency: Tax rates and income brackets for individuals, current year (2026) |
| Sales tax | 15 % HST | Canada Revenue Agency: GST/HST calculator (and rates) |
| Rent (Median monthly shelter cost of renter households (rent plus utilities paid by the household), all renter households) | $940 a month (2021) | Statistics Canada, Census 2021, table 98-10-0253-01: Shelter cost by tenure including presence of mortgage payments and subsidized housing |
The general minimum wage is $17.30 an hour since October 1, 2026 (it was $17.00 from April 1, 2026). It is scheduled to rise to $17.60 on April 1, 2027.
For 2026, PEI taxes the first $33,928 of taxable income at 9.5 % and income over $200,000 at 20 %, a top bracket added in 2026, across six brackets. The basic personal amount is $15,000.
PEI charges 15 % HST (5 % federal plus 10 % provincial).
What income does rent in Prince Edward Island take?
A common guideline is to keep housing at or below 30 % of gross income. At $940 a month, that means a household income of about $37,600 a year before tax.
Good to know
- A new 20 % bracket for taxable income over $200,000 was introduced on April 14, 2026, retroactive to January 1, 2026; payroll withholds it at a prorated 21 % from July 1.
- The basic personal amount went up from $14,650 in 2025 to $15,000 in 2026.
Sources
- Government of Prince Edward Island, Royal Gazette / Executive Council order EC2026-379: Minimum Wage Order (2026-03-31)
- Canada Revenue Agency: Tax rates and income brackets for individuals, current year (2026) (2026-06-25)
- Canada Revenue Agency: GST/HST calculator (and rates) (2025-04-01)
- Statistics Canada, Census 2021, table 98-10-0253-01: Shelter cost by tenure including presence of mortgage payments and subsidized housing (2022-09-21)
- Canada Revenue Agency: T4127 Payroll Deductions Formulas, 123rd edition, effective July 1, 2026 (2026-05)
- Canada Revenue Agency: T4127 Payroll Deductions Formulas, 122nd edition, effective January 1, 2026 (2025-11-20)