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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:

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

The government has implemented 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 provides a refundable benefit of 15 per cent of eligible public transit costs, providing an average annual benefit of $130.

The credit applies to Peterborough transit’s “10 ride” and “day” passes, senior “annual”, “semi-annual” and “monthly” passes, plus cash fares paid for handi-van trips only (please retain your receipt of purchase and expired pass(es) or contact Transit customer service to obtain a summary of annual cash fares paid for handi-van services).

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