Credit for Public Transit Pass
A non-refundable tax credit is available to taxpayers who purchase qualifying weekly, monthly or longer transit passes. These passes can be from various modes of transit such as the ferry, bus, subway, streetcar, or train.
Below is a list of the eligibility for weekly and one time use passes:
§ A weekly transit pass is only valid if there are at least four consecutive weekly passes per month.
§ Electronic payment cards can be considered eligible if they accumulate to travel time over a month or longer.
The tax credit is also transferable to either a spouse or common law partner, and to parents of dependent children who are under the age of 19.
Remember save your passes!
Please contact Dustin for a further review or for further explanation. Every effort has been made to ensure the accuracy of the information. However, because of the nature of the subject, no person or firm involved in the preparation or distribution of this commentary accepts any liability for its contents or use.