What is public transit tax credit?

Public transit amount is a non refundable tax credit for the cost of public transit passes for travel in Canada on local buses, streetcars, subways, commuter trains, or local ferries.

Eligibility of public transit amount

What transit pass is qualified for public transit tax credit?

 

Who can claim public transit credit?

You can make the public transit credit claim for yourself, your spouse or common-law partner, and children under 19 at the end of the year

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How to claim public transit credit?

Public transit amount should be claimed on line 364 of schedule 1. If the amount is shown on T4 slip, it should be entered from box 84 on line 364 of schedule 1.

If you received reimbursement from your employer for all or part of public transit cost, the reimbursed amount is not eligible. However, if the reimbursement is included in your income, you can claim it (in most of case, the amount will appear in box 84).

 

Supporting documents for public transit amount

What documents do you need to support public transit tax credit?

 

How much is the tax saving? 

The public transit credit is a non-refundable tax credit. It is calculated by multiplying the cost by the lowest income tax rate. For example, if the cost of the transit pass was $800, the tax credit is $120 for 2014 ($800 x 15%, the lowest tax rate). That means, the tax saving for you on the transit pass is $120. 

 

History

Public transit tax credit was introduced in 2006.

 

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Additional information