The following changes to limits and rates will take effect as of january 1, 2024: 70¢ per kilometre for the first 5,000 kilometres driven.
The mileage allowance is 70 cents for the first 5,000. The canada revenue agency has announced the new 2024 mileage rates:
Reimbursement For Costs Are Made To The Driver Only And Are Calculated By Applying The Mileage (Km) Rate To The Actual Driving Distance While On Ubc Business, By The Most.
The standard mileage rate from janury 1st, 2024 to december 31st, 2024 is:
The Mileage Allowance Is 70 Cents For The First 5,000.
What is the 2024 federal mileage reimbursement rate?
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If You Live In Nunavut, Northwest.
64 cents per kilometre after that.
This Type Of An Allowance Is A Taxable Benefit To The Employee Unless The Allowance Is Calculated Solely On The Number Of Business Kilometres Driven In A Year Multiplied By A.