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. As of 2024, the cra will give back 70¢ per kilometre for the first 5,000 kilometres driven and 64¢ per kilometre after that.
If you drive in the northwest territories, yukon or. The cra has issued the mileage rate for 2024, applicable from january 1 until december 31, 2024.
The Following Changes To Limits And Rates Will Take Effect As Of January 1, 2024:
the cra mileage rate in 2024 is set at 70 cents for the initial 5,000 kilometers and 64 cents for each subsequent kilometer.
Similarly, For Taxpayers Earning An Annual Income Of Rs.
The cra revises the official mileage rates every year.
Images References :
The Current Rate For Mileage In Canada Is 70¢ Per Kilometre For The First 5,000 Kilometres Driven.
$0.70 per kilometer for the first 5,000.
The Kilometric Rates (Payable In Cents Per Kilometre) Below Are Payable In Canadian Funds Only.
If you drive in the northwest territories, yukon or.