The Conservative government
has brought in a non-refundable tax credit for monthly (or longer) public
transit passes for commuting on buses, streetcars, subways, commuter trains and
ferries after June 30, 2006.
To claim the credit on your
Canadian federal income tax return, at a minimum you'll need to keep your
monthly transit pass. That's all you'll need to support your claim if the pass
shows:
·
That it is a monthly
(or longer) pass
·
The period for which
the pass is valid
·
Name of transit
authority or organization which issued the pass
·
Amount paid for the
pass
·
Identity of rider
If some of the information
listed above is not on your pass, then you'll also have to keep receipts,
cancelled cheques or credit card statements to support your claim.
More information can be
obtained at this website.