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The following applies to the 2023 tax year. 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.
To calculate your LRA you can use quotes or costs for round-trip charter flights to the nearest airport that has scheduled commercial flights to the nearest designated city. You can then add this amount with the amount listed in the airfare tables for that airport.
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 driven
To determine your LRA using a table, follow these steps: Find and open the table that matches the period of time when travel started. For example, if you travelled in November of 2022, find the table for the period of October 2022 to March 2023. In the table, choose the airport closest to your residence.
The CRA generally considers a value of up to $23 for the meal portion of the travel allowance to be reasonable. This means that you do not have to include this type of travel allowance if its main reason is so that your employee's duties are performed in a more efficient way during a work shift. For examples of situations where a travel ...
17 kwi 2024 · April 17, 2024 - 2 min read. CRA mileage rates 2023. In this article. Ontario mileage rate 2023. How the CRA set the 2023 mileage rate. Using the 2023 Canadian mileage rate. The 2023 CRA mileage rates are 68¢ per km for the first 5,000 kilometres driven and 62¢ per km after that.
23 kwi 2024 · Use the mileage calculator below to get an overview of how much you can receive as vehicle mileage reimbursement or deduction from the CRA for the year based on your work-related kilometres. CRA mileage calculator. Enter your driving below to estimate the reimbursement or CRA deduction you are entitled to for your business kilometres. Select rate.
