Mileage Rate 2024 Canada

Mileage Rate 2024 Canada. $0.70 per km on the first 5,000 km driven $0.64 for every km driven beyond that if you live in nunavut, northwest territories or yukon, it’s an. The general prescribed rate used to determine the taxable benefit of employees relating to the personal portion of automobile expenses paid by their employers will remain at 33 cents per kilometre for 2024.

Cra mileage rate in canada (2024, 2023, 2022): Understanding and effectively applying these rates can lead to more accurate budgeting, financial forecasting, and tax optimization.