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18 sty 2024 · Current CRA mileage rate. The 2024 CRA mileage rate for business-related driving is 70 cents per km for the first 5,000 kilometres driven, then 64 cents for each additional kilometre. For the Territories, 74 cents per km for the first 5,000 kilometres driven, and 68 cents for each additional kilometre
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).
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.
1 kwi 2024 · Appendix A: CRA Kilometric Rates. Effective: April 1, 2024. The kilometric rates (payable in cents per kilometre) below are payable in Canadian funds only. Rates are reviewed on a quarterly basis.
6 cze 2024 · CRA mileage calculator. Enter your driving below to estimate the reimbursement or CRA deduction you are entitled to for your business kilometres. Select rate. 2024 CRA rates. How many kilometres did you drive for work? km. Apply the additional 4¢ per km allowed in the Northwest Territories, Yukon, and Nunavut. 70¢ per km (first 5,000 km) $ 0.00.
The Canada Revenue Agency's (CRA) mileage rates is crucial for both business owners and employees in Canada. As we enter 2024, understanding these rates and their implications is more important than ever. In this guide we’ll cover: 2024 CRA Mileage Rate.
Step #1: Choose a method. There are two approved methods for claiming mileage on your yearly tax return: the simple method or the comprehensive method. While both methods are similar, there are a few differences we’ll highlight below: Simple method.
