2024 Mileage Reimbursement Rate Canada. The northwest territories, yukon, and nunavut get an additional 4 cents per kilometre. If you are an employer, go to automobile and motor vehicle allowances.
To calculate meal and vehicle expenses, you may choose the detailed or simplified method. The cra automobile allowance rates for 2024 are:
The Updated Cra Mileage Rates For 2024 Carry Significant Implications For Both Business Owners And Employees In Canada.
Here’s the cra’s automobile allowance rates for the past five years:
Canada Raises The Per Kilometre Reimbursement Rate To 70 Cents Per Kilometre For Employees Using Personal Vehicles For Work.
Effective july 1, 2024 the rates payable in cents per kilometre for the use of privately owned vehicles driven on authorized government business travel are shown below:
An Additional 4 Cents Per Business Kilometre For The Northwest Territories, Yukon, And Nunavut.
The general prescribed rate used to determine the taxable benefit of employees relating to the personal portion of automobile expenses paid by their employers will remain at 33 cents per kilometre for 2024.
70 Cents Per Kilometre For The First 5000 Km.
70 cents per kilometre for the first 5,000km driven.