transit pass tax credit

The ecoENERGY for Homes rebate program is ending very soon, and if you are planning on taking advantage of this opportunity, you’d better not wait any longer. At the moment, there are no indications of an extension to the program. The good news is there are other tax incentives that are part of the ecoENERGY action plan that have the potential to save you thousands of dollars. We think you should know about them.

As mentioned, the ecoENERGY Retrofit for Homes rebate program is coming to an end on March 31, 2012, and if you haven’t yet started the process we highly recommend that you take a look at our ecoENERGY blog post from December for all the steps you need to complete and submit your rebate. Click here to read the post.  Or, for more information about the ecoENERGY Retrofit – Homes Program visit the Government of Canada’s ecoACTION website.

If you are well on the way to completing the requirements for the ecoENERGY Retrofit for Homes program, rest assured that there are other programs bundled with the ecoENERGY initiative that can help you save even more. Here are the details of just two you might qualify for:

Government of Canada Transit Pass Tax Credit.
With the goal of reducing congestion and air pollution created by individual drivers, the government introduced this tax credit in 2006. It received quite a bit of press when it was launched on a trial basis, but that coverage faded even through the tax credit is still active today. While this program isn’t a rebate, it will give you the opportunity to claim your transportation and commuting costs when you do your taxes. Hopefully this will ease the bite of regularly rising public transportation prices. For more information, visit the Government of Canada website dedicated to this tax at www.transitpass.ca.

Ontario Interactive Digital Media Tax Credit
Although this is a little different than other ecoENERGY based rebates, the Government of Canada encourage businesses that are creating products with a lower carbon footprint. There is a lot of good information to be found on this program at www.omdc.on.ca.

If you know of an interesting credit you think our readers would like to know about, please let us know and we will add a link to the program or write about it in future issues of the Better Home Newsletter.

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