Prior to the 2017 budget, the public transit tax credit gave Canadians a 15 per cent non-refundable tax credit for the cost of public transit passes. This included annual and monthly passes as well as some electronic fare cards.
That tax credit will disappear as of July 1, 2017.
The elimination of this tax credit results in a tax increase for transit riders who qualified for the credit in the past. How much will it cost you?
Source: 2017 Federal Budget
Graphic by: Lucas Timmons