Transit is Taxing

So it’s almost tax time. Again. Well, the good news for the 2006 tax year is that all of us who ride the loser cruiser can benefit from a non-refundable tax credit if we bought a bus pass(es) from July onwards. For more information, check out the Translink website, and for even more information, check out the CRA website.

For those of you who submit all your receipts and stubs to a tax preparer like H&R Block, don’t forget to give them your old bus passes.

Hmm… but now that I think about it, this bit of information may have come a little late for those who weren’t in the know, since you probably threw away your bus passes already. Oh well, it’s not like the credit’s really huge. It’s whatever the total value of your bus passes are, multiplied by the lowest tax bracket for 2006 (15.25%). But remember it for 2007! Keep all those bus passes. Who knows, maybe you’ll save enough to be able to afford another bus pass when your refund comes in.  Me, I plan to spend my extra moola on fried chicken. Church’s to be exact. MmMMm greasy!


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