2024 Cra Mileage Rate Deduction

2024 Cra Mileage Rate Deduction. Rates are reviewed on a quarterly basis. 70 cents per kilometer for the first 5,000 kilometers driven for business purposes.


2024 Cra Mileage Rate Deduction

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 increasing to 70 cents per kilometre for the first 5,000 kilometers driven. The fixed rate and the variable rate.

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