Tax Credit for Transit Passes
A new non-refundable tax credit was introduced for the cost of public transit passes purchased in respect of transit on or after July 1, 2006.
Transit will include transit by local bus, streetcar, subway, commuter train, commuter bus and local ferry. The pass must be valid for a period of at least one month.
The credit may be claimed by either the taxpayer or the taxpayer's spouse or common-law partner for transit costs incurred by themselves and their dependent children under the age of 19.
Make sure you keep your passes and receipts so that you can substantiate your claim.
Click here to return to the 2006 Federal Budget Tax Changes index.
