CRA/Tax Tip: Save More Money With Public Transit!
2008-04-04 08:31:00
CRA/Tax Tip: Save More Money With Public Transit!
OTTAWA, ONTARIO–( EMWNews – April 4, 2008) – Did you know…
That individuals can claim a non-refundable tax credit for public transit? You can claim the cost of buying a pass or certain electronic payment cards for commuting on buses, streetcars, subways, commuter trains, and local ferries. You will also be able to claim passes of shorter duration as long as they allow you unlimited travel for at least five days, and you buy enough of these passes so that you are entitled to unlimited travel for at least 20 days in any 28-day period. In addition, you will be able to claim the cost of electronic payment cards when you use them to make at least 32 one-way trips during an uninterrupted period not exceeding 31 days.
You can include the cost of passes or electronic payment cards for yourself, your spouse or common-law partner, or your children under age 19. You need to keep receipts to support your claim.
For more information, visit www.cra.gc.ca/transitpass or www.transitpass.ca.
For more information, please contact Canada Revenue Agency |
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