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-- Metropass tax credit: To be implemented July 1, 2006
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Metropass tax credit: To be implemented July 1, 2006

Score one for the Harper Conservatives?

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Great news for transit lately... the latest federal budget includes a 15.5% tax credit for metropass buyers. We've got the potential for some great savings here: Regular Metropass Price: $99.75 per month OR Metropass Discount Plan: $91.50 per month Federal Tax Credit: - $14.18 per month Actual Cost of Metropass: $77.32 per month

making it cheaper is a good start! Now lets make the schedule and routing better!

Great news!

now if only the guy can make my car insurance cheaper.

my insurance just went down $400 a year ...

yeehaw!

A tax credit is a good way to go, although it doesn't change the price of a metropass at the point of purchase. This is both good and bad IMO.

The good: The tax-credit method subsidizes the TTC without restricting the revenue flowing into the TTC.

The bad: The price remains the same at the point of purchase, so the poor don't benefit from this until tax season. In addition, when doing their taxes a lot of people overlook tax credits and hence they might forget to deduct the relevant amount from their tax payments.

i agree with the point about the price remaining the same. However if people are too stupid not to claim it as a tax credit, then they dont deserve one.

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Originally posted by Jayx1 However if people are too stupid not to claim it as a tax credit, then they dont deserve one.

hehe, agreed

hmm, interesting.

i have to remember this at tax season.

15% is pretty good.

Does anybody know the reasons they made this a tax credit, and not an instant rebate?

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Originally posted by Orko 15% is pretty good. Does anybody know the reasons they made this a tax credit, and not an instant rebate?

This way the gov't pays for it, instead of the TTC directly.

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Originally posted by AwakenedAddict This way the gov't pays for it, instead of the TTC directly.

exactly.. If miller got his paws on the money hed probably hand it to the unions on a silver platter and nothing would get accomplished

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Originally posted by Jayx1 exactly.. If miller got his paws on the money hed probably hand it to the unions on a silver platter and nothing would get accomplished

I was thinking more along the lines that the TTC couldn't stand to lose the revenue (but that is a whole 'nother can of worms!).

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Originally posted by Jayx1 exactly.. If miller got his paws on the money hed probably hand it to the unions on a silver platter and nothing would get accomplished

Great comment...I hope everyone remembers it come election time in November. We REALLY need to get rid of this left-leaning mayor and city council!

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Originally posted by fairy godfather Great comment...I hope everyone remembers it come election time in November. We REALLY need to get rid of this left-leaning mayor and city council!

someone really needs to get rid of this fairy "CPC partisan hack" godfather.

PS: great comment!

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Originally posted by AwakenedAddict someone really needs to get rid of this fairy "CPC partisan hack" godfather. PS: great comment!

Do you think my "true colours" are showing...oooopppps!

A little to the right of Attila the Hun...that's where you will find me!

Yet again, you conservatives take an opportunity to bad mouth the other party. Why can you not just read a policy change, and accept and commend it without attacking?

This offensive stand you guys take is anything but conservative.

Give it a rest. I just want to read the news as it happens and not your attacks in every thread.

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Originally posted by AwakenedAddict ... The bad: The price remains the same at the point of purchase, so the poor don't benefit from this until tax season. In addition, when doing their taxes a lot of people overlook tax credits and hence they might forget to deduct the relevant amount from their tax payments.

that's my only problem with this...

no stats to back it up, but I'd have to guess that 'poor' people are less likely to pay someone to do their taxes who might alert them to this deduction?

whatever...it's a very good initiative, but it would have been nice if the gov't just subsidized the metropass to make it easier for Metropass buyers.

from the TTC standpoint, it doesn't matter...either the gov't pays them the $$$ for each one they sell, or the buyer gets the credit after the fact.

from a consumer standpoint, you'd rather receive the rebate now and let the TTC sort out getting their money from the gov't...from the TTC standpoint, they're probably quite happy at the tax credit route.

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Originally posted by MarkT that's my only problem with this... no stats to back it up, but I'd have to guess that 'poor' people are less likely to pay someone to do their taxes who might alert them to this deduction?

again no stats ... but are 'poor' people really buying metro passes? Or are they (I say 'they', but I think I mean 'we') buying tokens/tickets? $100 is a lot to fork over in a one time payment when you can spread it out to $25 a week.

^^^ maybe, I dunno.

I'm just not sure why it's the TTC that's "convenienced" and the Metropass buyer who has to claim it after the fact.

solution: the TTC has stats on the # purchased, on average. So why not discount it at the point of purchase with the gov't advancing the subsidy money UP FRONT for that year. Then sort out the actual #s after the fact.

Metropass buyers win and the TTC isn't out any (or much) money.

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Originally posted by MarkT solution: the TTC has stats on the # purchased, on average. So why not discount it at the point of purchase with the gov't advancing the subsidy money UP FRONT for that year. Then sort out the actual #s after the fact.

Yeah for real, this really seems like the easiest solution.

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Originally posted by MarkT ^^^ maybe, I dunno. I'm just not sure why it's the TTC that's "convenienced" and the Metropass buyer who has to claim it after the fact. solution: the TTC has stats on the # purchased, on average. So why not discount it at the point of purchase with the gov't advancing the subsidy money UP FRONT for that year. Then sort out the actual #s after the fact. Metropass buyers win and the TTC isn't out any (or much) money.

This is exactly what I was thinking. In the end the administration costs would be the same, because either way they have to file paper work telling the Fed how many passes they sold that month.

I think collectively giving the money back instantly would save more people time and money. I'm sure it will be a simple rebate but its just one less thing to worry about at tax time.

PLUS I am guessing you would have to save all your TTC passes for the year? That would be very annoying.

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Originally posted by TO guy again no stats ... but are 'poor' people really buying metro passes? Or are they (I say 'they', but I think I mean 'we') buying tokens/tickets? $100 is a lot to fork over in a one time payment when you can spread it out to $25 a week.

lol, if you can't fork over $100 at the beginning of the month, you've got some serious fiscal issues. Like paying the rent, or eating.

One reason poor people stay poor is that they do stupid things like buying tokens everyday, instead of a metropass. Help yourself first!

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Originally posted by StereoPrincess hmm, interesting. i have to remember this at tax season.

Me 2. THis is pretty good news.

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Originally posted by MarkT that's my only problem with this... no stats to back it up, but I'd have to guess that 'poor' people are less likely to pay someone to do their taxes who might alert them to this deduction? whatever...it's a very good initiative, but it would have been nice if the gov't just subsidized the metropass to make it easier for Metropass buyers. from the TTC standpoint, it doesn't matter...either the gov't pays them the $$$ for each one they sell, or the buyer gets the credit after the fact. from a consumer standpoint, you'd rather receive the rebate now and let the TTC sort out getting their money from the gov't...from the TTC standpoint, they're probably quite happy at the tax credit route.

Hey Mark...

I think you make REALLY great points in your post.

The way I see this, it's meant to increase ridership by getting people who presently drive downtown, to leave their cars at subway stations and take the TTC and not to simply reduce the cost of monthly passes.

The benefits to the City and the TTC would be enormous both in terms of green house gas emissions and additonal revenue to the TTC.

At some point, I hope the program will be inhanced to cover the issues you raise.

I suppose for me, I am just glad to see new ideas, innovation, and at least have something done instead of all the talk we have had from governments in the past.

Let's not be "idea assasins"....I am always in favour of trying something new....does not matter what side of the political spectrum it comes from...

Government inaction and whining are my pet peeves!!!

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