| Public Transit Tax Credit is a non-refundable tax credit to help individuals cover their cost of public transit. The tax credit for public transit passes is a non-refundable tax credit for the cost of buying a monthly (or longer duration) pass for commuting on buses, streetcars, subways, commuter trains and local ferries.
The federal budget introduced a non-refundable public transit tax credit based on the cost of monthly public transit passes for travel. In addition to monthly public transit passes, the public transit tax credit has been expanded to include costs for:
For example, if your monthly transit pass costs $100, the amount you can claim in the Year would be $1,200, resulting in a tax credit of $180.00 (twelve months multiplied by 15%). |
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