Public Transit Pass Credit
Many people want to do their part to help the environment, but worry about the extra costs. Regular use of public transit can be a huge step toward reducing your carbon footprint, and often the annual cost is less than car insurance alone, not to mention gas, parking, and repairs and maintenance. Now, as an added incentive, you can also use the cost of your transit pass, as a credit to reduce your taxes and save money. The perfect win-win situation!
Here is a brief overview of the …
PUBLIC TRANSIT AMOUNT
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You need to be a regular transit user.
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You need to purchase transit passes rather than single use or daily tickets.
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You need to keep your passes and other documentation as evidence of purchase.
You can claim for yourself and members of your immediate family.
The cost of electronic payment cards may also be eligible. This would allow for regular commuting on BC Ferries minor routes. In this case you would need a print-out to verify regular usage as a foot passenger.
Naturally, if you are given a tax free reimbursement for the passes you must deduct the reimbursement from your claim.
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