Mileage Rate 2024 Nz Calculator

Mileage Rate 2024 Nz Calculator. If you are a sole trader or qualifying close company and use the kilometre rate method to claim business vehicle costs, this new rate applies for the 2023 year, being the year 1. If you use the vehicle for any personal travel, you’ll need to separate the running costs of your vehicle between business and private use.

Section de 12 (3) requires that the commissioner sets a mileage rate that taxpayers may use to calculate the expenditure or loss on a motor vehicle that represents the proportion. Tier 1 rates have reduced to reflect.