July 6, 2006
Government of Canada announces public transit tax credit
Richmond Hill, Ontario – Effective July 1, 2006, Canadians taking public transit will be eligible for a non-refundable tax credit on the cost of monthly passes.
A transit user who spends $80 per month on a transit pass could save about $150 for the year; individuals are also able to claim expenses on behalf of their spouses and children. Along with the tax credit, Canada’s government is also investing $1.3 billion to strengthen and expand Canada’s public transit systems from coast to coast.