If you’re in Ontario, your senior clients who use public transit are eligible for a new tax credit — the seniors’ public transit tax credit.
The credit is refundable and equal to 15% of a senior’s eligible public transit costs, and came into effect on July 1, 2017 (i.e., only payments for public transit services between July 1 and December 31 are eligible for the 2017 taxation year).
Ontario’s budget says the annual benefit of the credit is $130.
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