2024 Mileage Rate Canada. An additional 4 cents per kilometre. The mileage allowance is 70 cents for the first 5,000 kilometres.
For 2024, the department of finance canada made some notable changes to the automobile income tax deduction limits and mileage rates, with the initial mileage rate. 70¢ per kilometre for the first 5,000km driven.
Cra Medical Travel Rates 2023.
64¢ per kilometre after that.
The 2024 Mileage Reimbursement Rate In Canada Is:
Let’s explore the recent changes:
The Canada Revenue Agency Has Announced The New 2024 Mileage Rates:
Images References :
70¢ Per Kilometre For The First 5,000 Kilometres.
This incentive will reduce the inclusion rate to 33.3 per cent on a lifetime maximum of $2 million in eligible capital gains, resulting in entrepreneurs paying less tax.
Let’s Explore The Recent Changes:
The rates payable in cents per kilometre for the use of privately owned vehicles driven on authorized government business travel are shown.