subject: Tax Credit for Public Transit Passes [print this page] Tax Credit for Public Transit Passes Tax Credit for Public Transit Passes
In today's fast-paced society, getting from point A to point B is extremely important. However, some disabled Canadians are unable to drive due to their disability. Others rely on public transportation due to inaccessibility or cost.
Are you aware that the full amount paid for public transit passes during a tax year can be claimed as a as a non-refundable tax credit in that year? Included in this are monthly and yearly passes, if they allow for unlimited travel, on the following methods of transportation:
local buses
streetcars
subways
commuter trains or buses, or
local ferries
How to Support Your Claim
Your transit passes need to display all of the following information to support your claim:
an indication that it is a monthly (or longer duration) pass
the date or period for which the pass is valid
the name of the transit authority or organization issuing the pass
the amount paid for the pass
the identity of the rider, either by name or unique identifier
If the pass your transit authority issues does not contain all of the aforementioned information, you will also need to keep receipts along with your pass(es), to support your claim.
Completing Your Tax Return
Online 364of Schedule 1,Federal Tax, enter your Public Transit Amount. Enter the dollar amount you paid throughout the year on this line. To calculate the resulting refund, you must multiply the amount on line 364 by the lowest tax rate, which in year 2009 was 15%. Remember, as a non-refundable tax credit, this credit will only result in a refund if you pay into income taxes.
As in all other situations, whether you are filing a paper return orfiling electronically, keep all of your supporting documents (receipts and passes) in case the Canada Revenue Agency (CRA) asks to see them.
