TTC Metropasses, Weekly Passes are tax deductible
March 25, 2011
The TTC reminds customers that monthly and weekly transit passes are eligible for a federal income tax credit. The non-refundable tax credit applies to the TTC Metropass, the TTC Weekly Pass and the GTA Weekly Pass. Passes for Adults, Post-Secondary Students and Seniors/Students are all eligible for the tax credit.
Each 2010 Metropass claimed is eligible for a 15-per-cent tax credit on your 2010 tax return. Weekly passes are eligible under specific conditions.
Your expired Metropass or Weekly Pass is your receipt. Customers who subscribe to the Metropass Discount Plan are issued an annual receipt by the TTC.
For more details – and to calculate your tax credit – please visit the Canada Revenue Agency website .
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