Standard Mileage For 2024. 1 and would apply to 2024 tax. In the northwest territories, yukon, and nunavut, there is an additional 4¢ per kilometre allowed for travel.
You may also be interested in our free lease mileage calculator At the end of last year, the internal revenue service published the new mileage rates for 2024.
This Notice Provides The Optional 2024 Standard Mileage Rates For Taxpayers To Use In Computing The Deductible Costs Of Operating An Automobile For Business, Charitable, Medical, Or Moving Expense Purposes.
New standard mileage rates are:
Mileage Reimbursements Today Become Rarer By The Day With The Adoption Of Remote Work And The Fading Out Of The Concept Of Company Vehicles.
You may also be interested in our free lease mileage calculator
In The Northwest Territories, Yukon, And Nunavut, There Is An Additional 4¢ Per Kilometre Allowed For Travel.
Images References :
The New Rate Kicks In Beginning Jan.
The portion of the business standard mileage rate considered as depreciation is 30 cents per mile in 2024.
The Automobile Allowance Rates For 2023 Are:
Find standard mileage rates to calculate the deduction for using your car for business, charitable, medical or moving purposes.
5P Per Passenger Per Business Mile For Carrying Fellow Employees.