Good news! You can get a break on your income tax just for riding YRT/Viva.
Effective July 1, 2006, a 1 Zone or 2 Zone Adult, Student, Senior/Child or Express Monthly Pass entitles you to a non-refundable federal public transit tax credit.
Effective January 1, 2007, the public transit tax credit has been expanded to also include the GTA Weekly Pass. You must have at least four consecutive weekly passes to claim for a tax credit.
To claim your public transit tax credit, just keep your monthly pass for each month claimed, or four consecutive weekly passes. The value of each pass is printed on the front.
The tax credit is non-refundable. The amount you claim is multiplied by the lowest personal income tax rate for the year and is then deducted from your income tax otherwise payable.
For more information, please visit the Government of Canada transit tax credit page at www.transitpass.ca
YRT/Viva is not responsible for the replacement of lost passes.