Cycling News

It’s tax season, did you know there are incentives for bikes in some places?

It's tax season, did you know there are incentives for bikes in some places?

Tax season is here! It began Feb. 19 so hopefully you’re working away on your, if you haven’t already filed. There’s all sorts of credits and incentives for Canadians that you may not know about, but should bikes be one of them? Many think it’s time that all bikes, whether traditional or pedal-assist, should give you a break when you file.

In 2021, Toronto Councillor Mike Layton put forth a motion to amend the city’s latest bike plan to include tax incentives for both traditional and e-bikes. Layton is a cyclist himself and has been involved with much of the increase in bike infrastructure in Toronto.  The amendment is to “add financial incentives for purchasing all bikes, e-bikes and other non-carbon vehicles that are approved for use on City of Toronto road ways and cycling infrastructure.”

The bike boom

2020 and 2021 saw a massive uptick in cycling, and has resulted in many more people using their bike as primary transportation across Canada. There’s also been a surge of e-bikes as a method of transportation or for delivery services. Cities across Canada have begun pilot projects with delivery services like FedEx, grocery or retail stores.

Ebikes are now exempt from PST in B.C.

The value of bikes to the economy

Bicycles are a much more environmentally friendly resource than cars, so it makes sense that a payment or tax might make sense as both a reward for those who choose to ride, instead of drive. Additionally, with traffic levels returning to pre-pandemic levels, there is an urgent need to reduce car traffic in urban centres. It has been proven that bikes take up far less room than cars in cities, and more people using their bike as opposed to a car would alleviate much of the gridlock.

Breaks for bikes


Click Here to Read the Full Original Article at Canadian Cycling Magazine…