Feds Eliminate Tax Break on Monthly Transit Passes

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The 2017 Federal Budget — rolled out Wednesday afternoon — is eliminating a 15 percent tax credit on monthly transit passes.

The decision means that monthly passes for Brampton Transit, GO Presto pass holders, the TTC and area transit systems, are no longer eligible for a tax rebate.

Currently, a monthly pass with Brampton Transit costs $122, yielding a $18.30 monthly credit, or $219.60 yearly.

Riders will be able to receive credits for passes purchased this year up until June, but it will be phased out after that.

Removal of the tax credit will save the Federal Government approximately $1 billion over the next five years.

The Trudeau government will be looking for other ways to encourage transit usage, including a $20.1 billion commitment to transit projects across the country over the next 11 years.

Read the Federal Government’s full budget here.

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