The Public Transit Tax Credit (PTTC) was introduced by Jim Flaherty in 2006. It was designed to allow people to use 15% of their transit pass on their tax return. Someone paying $960/year would get back $144.
With the 2017 budget, the credit has been cut as of July 1, 2017. “Since the measure’s introduction in 2006, independent studies have shown that that the tax credit has had a very limited impact on increasing public transit usage, despite its high annual cost in forgone tax revenue,” Press Secretary Annie Donolo said.
Finance Department reports indicate as of 2011, 1.5 million tax filers claimed the credit for either themselves, or a family members. Milton M.P. Lisa Raitt estimates it would save a Go train rider from Milton approximately $345/year. “A big deal for youth, and low income earners,” she tweeted.
The 2017 budget has allocated $25.1 billion to transit. $20.1 billion goes to the provinces/ territories, and an additional $5 billion through the Canada Infrastructure Bank.
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