Leave a commentDo you routinely use public transit? You might be eligible to claim a special tax credit for transit passes purchased in 2013 on your personal income tax return.
The public transit tax credit is available for transit passes used in calendar year 2013. There is no limit to the amount you may claim. Claims are available for:- Passes that provide unlimited use of public transit for at least 20 days in any 28 day period
- Weekly passes provided they are for at least four consecutive weeks and each pass provides at least 5 consecutive days of unlimited public transit use
Eligible cost per trip electronic payment cards may also qualify in 2013 provided they are used for at least 32 one way trips during an uninterrupted period of no more than 31 days. Consult with your public transit authority to ensure the card they issue is eligible.
You may claim the eligible cost for yourself, your spouse or common law partner, and your children under the age of nineteen at the end of the year. Keep your transit passes, they could be worth 15 cents on the dollar when you file your tax return.