The tier one rate is used for the first 14,000 kilometres travelled by the vehicle in a tax year (including both business and personal purposes). The tier two rate is applied to.
You can find them on our website. The rates set out below apply for the 2023/2024 income year for business motor vehicle expenditure claims.
Inland Revenue Has Advised The New Mileage Rate For Motor Vehicles Is 77 Cents Per Kilometre.
The tier one rates reflect an overall increase in.
Section De 12 (3) Requires That The Commissioner Sets A Mileage Rate That Taxpayers May Use To Calculate The Expenditure Or Loss On A Motor Vehicle That Represents The Proportion.
The tier 1 rates reflect an overall increase in vehicle running costs largely due to fuel costs.
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The Rates Set Out Below Apply For The 2021/2022 Income Year For Business Motor Vehicle Expenditure Claims.
The tier 1 rates reflect an overall increase in vehicle running costs largely due to fuel costs.
The 2023/2024 Kilometre Rates Have Been Published.
Hence, a small car up to 1.5 litre is 53.2c per km and the rate goes up depending on the car to $1.07 per km for a large car over 3.5 litres.
