Cra Reasonable Mileage Rate 2024. 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. The cra has issued the mileage rate for 2024, applicable from january 1 until december 31, 2024.
The 2024 mileage reimbursement rate in canada is: It is accepted that these rates may also be used by employers as a reasonable estimate for reimbursement of expenditure incurred by employees for the use of a private motor vehicle for business purposes in a current income year (1 april onwards), as provided in s cw 17(3)(a).
Cra Medical Travel Rates 2023.
Here’s a breakdown of the recent revisions:
If You Are An Employer, Go To Automobile And Motor Vehicle Allowances.
Cra mileage rate for 2024.
Medical Travel If You Travel More Than 40 Kilometres.
Images References :
The Allowance Is Tax Free As Long As It Matches The Reasonable Cra Mileage Rate, Ensuring That Employees Get Fair Compensation For Using Their Vehicle For Business Travels.
The current cra mileage rates for 2024 are:
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.
70 cents per kilometre for the first 5000 km driven.
The Meal Rates Are Reviewed Every Six (6) Months And Resulting Revisions, If Any, Are Effective As Of April 1 And October 1.