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3 lip 2024 · uses a rate that takes all your vehicle running expenses (including registration, fuel, servicing and insurance) and depreciation into account. Rates. Rates are reviewed regularly. The rate is: 88 cents per kilometre for 2024–25; 85 cents per kilometre for 2023–24; 78 cents per kilometre for 2022–23; 72 cents per kilometre for 2020–21 ...
25 cze 2024 · Use official cents per kilometre rates or enter your own. Check your reimbursement or deduction with the ATO mileage calculator.
25 cze 2024 · How do I use the cents per km rate to calculate mileage reimbursement? We'll look at the two most common situations: A: You drive your personal vehicle for business, and your company uses the ATO's standard cents per km rate to figure out how much you should be reimbursed.
25 cze 2024 · Each year, the ATO sets a standard rate for deducting business-related car expenses from a tax return - the cents per kilometre rate. The rate covers all costs associated with driving one’s own car for business purposes, including ownership and operating costs.
1 lip 2024 · For 2023, the standard mileage rate for the business use of your car is 65.5 cents per mile (67 cents per mile for 2024). Under a FAVR method, your car expense reimbursement is based on a combination of payments covering fixed and variable costs.
25 cze 2024 · From 1 July 2024, the cents per kilometre rate for calculating motor vehicle expenses is 88 cents per kilometre. This change will apply for the 2024–25 income year.
30 cze 2024 · If you're an employer or another withholding payer, our tax withheld calculator can help you work out the tax you need to withhold from payments you make to employees and other workers. It applies to payments made in the 2024–25 income year and takes into account: Income tax rates. Medicare levy.
