Mileage Rate 2024 Ontario Canada

Mileage Rate 2024 Ontario Canada. The cra has a standard mileage rate of $0.70 per kilometre for the first 5,000 kilometres driven each year; $0.70 per kilometer for the first 5,000 kilometers driven

The 2024 cra mileage rate in ontario is set to 70 cents per kilometer for the first 5,000 kilometers driven and 64 cents for each additional kilometer, the same as in other parts. Use the prescribed rate (section 7305.1 of the itr) per kilometre of personal driving to calculate the motor vehicle.