The kilometric rates (payable in cents per kilometre) will be used for the application of the. For automobiles a taxpayer uses for business purposes, the portion of the business standard mileage rate treated as depreciation is 27 cents per mile for 2020, 26.
$0.70 per kilometer for the first. 64¢ per kilometre over 5,000 kilometres.
For Automobiles A Taxpayer Uses For Business Purposes, The Portion Of The Business Standard Mileage Rate Treated As Depreciation Is 27 Cents Per Mile For 2020, 26.
The canada revenue agency has announced the new 2024 mileage rates:
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70¢ per kilometre for the first 5,000 kilometres driven.
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The Cra Has Issued The Mileage Rate For 2024, Applicable From January 1 Until December 31, 2024.
The current cra mileage rates for 2024 are:
64 Cents Per Kilometre After That.
The general prescribed rate used to determine the taxable benefit of employees relating to the personal portion of automobile expenses paid by their.