The tier 1 rates reflect an overall increase in vehicle running costs largely due to fuel costs. Inland revenue has just released its vehicle kilometre rates for the 2021 income year, and it’s not good news, particularly for employers who will need to quickly update mileage.
To help in calculating an employee’s reimbursement when they use their private vehicle for work. The rates are $1.04 for petrol, diesel, hybrid and.
Inland Revenue Has Advised The New Mileage Rate For Motor Vehicles Is 77 Cents Per Kilometre.
Claim expenses for business use of a vehicle using actual costs or logbooks and kilometre rates for the current year.
This Rate Applies To Self Employed Taxpayers With Up To A Maximum.
Claim expenses for business use of a vehicle using actual costs or logbooks and kilometre rates for the current year.
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Using The Tier 1 And Tier 2 Rates.
The rates set out below apply for the 2023/2024 income year for business motor vehicle expenditure claims.
Claim Expenses For Business Use Of A Vehicle Using Actual Costs Or Logbooks And Kilometre Rates For The Current Year.
The rates are $1.04 for petrol, diesel, hybrid and.