Conservative transit plan will benefit the environment
29 December 2005
Tax credit for transit passes will reduce the cost of public transportation
Today in Vancouver, Stephen Harper announced that a new Conservative government will introduce a tax credit for monthly transit passes, which will reduce federal income taxes and the cost of riding public transit.
“Our tax credit for transit users will put hard-earned dollars back in the pockets of Canadians, and at the same time help our environment,” said Mr. Harper. “This will be a real incentive that encourages more people to take public transit which, in turn, means fewer cars on the roads and cleaner air.”
The tax credit, which is part of the Conservative’s “Made in Canada” clean-air policy, will be worth 16 per cent of the actual, receipted amount spent on public transit. The average commuter will save $153 annually. Specific annual cost savings include the following:
Up to $250 for a TransLink commuter (Greater Vancouver);
$190 for a TTC Metropass holder (Toronto);
Up to $386 for an AMT TRAM card (Montreal); and
Depending on route, as much as $500 for a GO Transit rider (Greater Toronto Area).
This family-friendly policy allows parents to claim the tax credit on behalf of dependent children, and one spouse can claim the credit on behalf of another. The tax credit will apply to all transit passes, whether annual, monthly or weekly, and also to other fare payment options.
The program will be funded by re-directing tax dollars that the current government intends to hand over to foreign countries to buy credits for greenhouse gas emissions.
“Instead of sending your tax dollars overseas, we plan to use them here to provide incentives for Canadians,” said Mr. Harper. “This is a real incentive to take public transit, which will mean fewer cars on the roads and cleaner air for all. It’s a Made in Canada program to protect the environment and fight traffic congestion.”
Only the Conservatives will stand up for the environment by offering a “Made in Canada” plan that will preserve clean air, and fight global warming while reducing the cost of public transportation.
