Mileage Rate 2024 Ontario Canada. They need to follow strict rules, outlining what can be repaid with public funds and what maximum amounts can be claimed. 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 increasing to 70 cents per kilometre for the first 5,000 kilometers driven.
68 cents per kilometer for each additional kilometer. An additional 4 cents per kilometre in the northwestern territories, nunavut and yukon.
The Automobile Allowance Rates For 2024 Are:
Mileage when public transportation is not available and a personal vehicle is used, payment is made at the approved mileage rate.
74 Cents Per Kilometer For The First 5,000 Kilometers.
The kilometric rates (payable in cents per kilometre) below are payable in canadian funds only.
70 Cents Per Business Kilometre For The First 5,000Km And 68 Cents Per Business Km After That.
Images References :
An Additional 4 Cents Per Kilometre In The Northwestern Territories, Nunavut And Yukon.
If you are an employer, go to automobile and motor vehicle allowances.