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6 cze 2024 · Choose a CRA per-kilometre rate or enter your own. Simply enter how many km you drove to calculate your allowance or deduction.
- How to Calculate Mileage Reimbursement in Canada
Calculate your mileage reimbursement by multiplying your...
- How to Calculate Mileage Reimbursement in Canada
1 lip 2024 · Effective: July 1, 2024. The kilometric rates (payable in cents per kilometre) below are payable in Canadian funds only. Rates are reviewed on a quarterly basis. These rates are guided and established by the National Joint Council (NJC) and adopted by the Canada Revenue Agency for application of the Directive on Travel.
To calculate meal and vehicle expenses, you may choose the detailed or simplified method. Your total travel expenses equal the total of the value of travel assistance provided by your employer and the travel expenses incurred by you. Include any travel expenses paid by your employer.
13 maj 2024 · Calculate your mileage reimbursement by multiplying your business-related kilometres with the CRA mileage rate for 2024 - 70 cents for the first 5,000 km. After 5,000 km, the rate decreases to 64 cents per kilometre.
The automobile allowance rates for 2022 are: 61¢ per kilometre for the first 5,000 kilometres driven; 55¢ per kilometre driven after that In the Northwest Territories, Yukon, and Nunavut, there is an additional 4¢ per kilometre allowed for travel. The automobile allowance rates for 2021 were: 59¢ per kilometre for the first 5,000 kilometres ...
18 sty 2024 · If the mileage allowance you receive from your employer doesn’t exceed the reasonable per-kilometre rate, your allowance will not be taxed. If you receive an allowance higher than the CRA rates, the full allowance will be taxed as a part of your income.
2 kwi 2024 · To calculate vehicle allowance amounts provided by employers using the CRA mileage rate, multiply an employee’s total business kilometres driven during a given tax year with the corresponding kilometric rate of ($0.70 per km 2024 for the first 5,000km and $0.64 thereafter).
