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Metropass tax credit: To be implemented July 1, 2006
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| AwakenedAddict |
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
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Metropass Discount Plan: $91.50 per month
Federal Tax Credit: - $14.18 per month
Actual Cost of Metropass: $77.32 per month |
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| Jayx1 |
| making it cheaper is a good start! Now lets make the schedule and routing better! |
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| The Highroller |
| Great news! |
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| Floorwhore |
| now if only the guy can make my car insurance cheaper. |
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| Jayx1 |
my insurance just went down $400 a year ...
yeehaw! |
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| AwakenedAddict |
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. |
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| Jayx1 |
| 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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| AwakenedAddict |
| quote: | 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 :) |
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| StereoPrincess |
hmm, interesting.
i have to remember this at tax season. |
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| Orko |
15% is pretty good.
Does anybody know the reasons they made this a tax credit, and not an instant rebate? |
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| AwakenedAddict |
| quote: | 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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| Jayx1 |
| quote: | 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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