Jan 27, 2008

Federal tax credit for public transit

It is that time of year again when we are compelled to file our income tax forms for our 2007 earnings.

If you use public transit — including travel by bus, subway, commuter train and ferry — and buy monthly (or longer duration) passes, you are eligible for the new transit pass tax credit. It may be as simple as saving your expired passes for when you file your next tax return. If family members also use monthly passes to travel by public transit, you can choose to claim the credit for yourself, your spouse or common-law partner and for children under 19 years of age.

Related links:
  • How to claim your Tax Credit for Public Transit Passes
  • Calculate your tax credit
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