Motor Vehicle Cents Per Km Rate 2024. To determine the amount you can claim for vehicle expenses, multiply the number of kilometres by the cents/km rate from the chart below for the province or territory in. Vehicle type tier 1 rate per km tier 2 rate per km;
In the northwest territories, yukon, and nunavut, there is an additional 4ยข per kilometre. Read more about what the rate set by the ato covers.
How You Use This Method.
The current cents per km rate set set by the ato for 2023/2024 is 85 cents per km.
To Determine The Amount You Can Claim For Vehicle Expenses, Multiply The Number Of Kilometres By The Cents/Km Rate From The Chart Below For The Province Or Territory In.
64ยข per kilometre driven after that;
To Work Out How Much You Can Claim As A Deduction, You Simply Multiply The Total Work/Business Kilometres You Travelled By The Appropriate Rate.
Images References :
Vehicle Type Tier 1 Rate Per Km Tier 2 Rate Per Km;
Changes to the mileage rate for 2024.
In Particular, The Cents Per Km Method For Claiming Car Expenses Is Undergoing Changes For The 2024 Financial Year.
70ยข per kilometre for the first 5,000 kilometres driven.
