2024 Automobile Allowance Rates. Deduction limits and rates for 2024 applicable to the use of an automobile. This page is for employers who provide their employees with an automobile allowance.
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. Calculate how much you can receive in automobile allowances in 2023 and 2024 with.
On December 18, 2023, The 2024 Limits Were Announced As Follows:
The fixed rate for 2024 is 33¢ per kilometre of personal use (including gst/hst and pst).
See Our Dedicated Article On The Cra Mileage Rates For Previous Years.
As of january 1, 2024, the rates in effect for provincial tax purposes are as follows:
Climate Action Tax Credit — Effective July 1, 2024, The Maximum Annual Climate Action.
Images References :
The Fixed Rate For 2024 Is 33¢ Per Kilometre Of Personal Use (Including Gst/Hst And Pst).
64¢ per kilometre driven after that;
In 2024, The Cra Has Updated Its Mileage Rates To 70 Cents Per Kilometre For The First 5,000 Kilometres Driven And 64 Cents Thereafter.
64¢ per kilometre driven after that in the northwest territories, yukon, and nunavut, there is an additional 4¢ per kilometre allowed for travel.
