Mileage Rate 2024 Ird Nz. Use the rates for the year you’re claiming. Inland revenue has advised the new mileage rate for motor vehicles is 77 cents per kilometre.
The tier 1 rate is a combination of your vehicle’s fixed and running costs. Tier 1 rates have reduced to reflect lower fuel, interest and maintenance costs.
Use The Rates For The Year You’re Claiming.
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.
To Help In Calculating An Employee’s Reimbursement When They Use Their Private Vehicle For Work Purposes Use The Following Link On The Ird Website:
Anyone from ird knows when the 2024 mileage rates come out.
Mileage Rate 2024 Ird Nz Images References :
Use The Tier 1 Rate For The Business Portion Of The First 14,000 Kilometres Travelled By The Vehicle In A Year.
The tier one rates reflect an overall increase in vehicle running costs largely due to fuel costs, insurance and interest rates.
This Is Tax Free If It Reimburses Their Additional Transport Costs And They:
The tier one rates reflect an overall increase in vehicle running costs largely due to fuel costs, insurance and interest rates.