City Hall Seniors Living Internal Business Visiting Online Services Business Crossing Guards Living Living City Hall PACAC Geomatics/Mapping Mayor's Action
Committee
Emergency & Risk Management Accessibility Transit Search Wellness Centre FAQ Sitemap Contact Us Living Living News Living Election Wall of Honour Business
City transit image
   
Reduce Text Size Reset Text Size Increase Text Size

Federal Tax Credit for Transit Passes

Changes to the Federal Tax Credit for Transit Passes

The 2017 Federal Budget eliminates the public transit tax credit at the end of June 2017.

You may be able to claim a 15% non-refundable tax credit for the cost of eligible transit passes that are for the use of public transit services for the period January 1, 2017 to June 30, 2017 on your 2017 income tax and benefit return.

 Peterborough Transit advises pass holders to keep BOTH their expired passes and sales receipt in order to meet the Canada Revenue Agency requirements for claiming the tax credit. Peterborough Transit and our sales agents cannot re-issue receipts so be sure to get yours at the time of purchase.

More information on the federal tax credit for public transit is available at the Canada Revenue Agency.


Ontario Seniors' Transit Tax Credit Implementation:

According to the 2017 Ontario budget web page (see link below);

To help Ontario’s seniors participate in community life, the Province is committed to making public transportation more affordable for them.

The government is proposing a new Ontario Seniors’ Public Transit Tax Credit for all Ontarians aged 65 or older, covering eligible public transit costs as of July 1, 2017.

It would provide a refundable benefit of 15 per cent of eligible public transit costs, providing an average annual benefit of $130.

Details about eligibility for the credit will be announced in time for the July 1 implementation date.

More information on the Ontario Seniors’ Public Transit Tax Credit is available at 2017 Ontario budget.