Mileage Rate 2024 Nz Ird. A review of the commissioner’s mileage rate results in an increased rate of 73 cents per kilometre for both petrol and diesel fuel vehicles for the 2017 income year compared to. The tier one rate is used for the first 14,000 kilometres travelled by the vehicle in a tax year (including both business and personal purposes).
Make sure you’re claiming the right rate! The other factor to consider is that the ird rate of 77c per km (across all makes, models, ages and engine sizes) is capped to 5,000km per year and requires keeping a log book,.
By Quidnunc |Aa Member|3 Posts|4 April 2013 At 10:39Am.
Section de 12 (3) requires that the commissioner sets a mileage rate that taxpayers may use to calculate the expenditure or loss on a motor vehicle that represents the proportion.
If Your Vehicle Isn’t Petrol, Diesel, Hybrid, Or Electric (???), Then You Must Use.
If you are a sole trader or qualifying close company and use the kilometre rate method to claim business vehicle costs, this new rate applies for the 2023 year, being.
To Help In Calculating An Employee’s Reimbursement When They Use Their Private Vehicle For Work.
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The Tier 1 Rates Reflect An Overall Increase In Vehicle Running Costs Largely Due To Fuel Costs.
The ford territory ghia running costs is 107.7cents/km.
Section De 12 (3) Requires That The Commissioner Sets A Mileage Rate That Taxpayers May Use To Calculate The Expenditure Or Loss On A Motor Vehicle That Represents The Proportion.
The tier one rate is used for the first 14,000 kilometres travelled by the vehicle in a tax year (including both business and personal purposes).