Mileage Reimbursement Canada 2024. 70¢ per kilometre for the first 5,000 kilometres. In the northwest territories, yukon, and nunavut, there is an additional 4¢ per kilometre allowed for travel.
70 cents per km for the first 5000 km driven, up two cents from last year’s rate. In this guide, we will provide a definitive overview of what the system entails, so employers know exactly how to reimburse employees for mileage and their employees know how.
The Mileage Allowance Is 70 Cents For The First 5,000.
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.
The Rates For 2024 Will Be Available On Our Website In 2025.
You may provide an allowance or a reimbursement to your employee to compensate for use of their automobile or motor vehicle in connection with or in the course of their office.
The Kilometric Rates (Payable In Cents Per Kilometre) Will Be Used For.
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April 1, 2024 The Kilometric Rates (Payable In Cents Per Kilometre) Below Are Payable In Canadian Funds Only.
When discussing mileage reimbursement in canada and the cra mileage rate 2024, it’s important to clarify what this refers to and in what cases employees are entitled to these.
70 Cents Per Kilometre For The First.
70¢ per kilometre for the first 5,000 kilometres driven.
The Canada Revenue Agency Has Announced The New 2024 Mileage Rates:
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