Original Published Date
Status
Current
Tax Category
Payroll
Resource Type
Statement of formula / rates and thresholds
Description
The cents per kilometre deduction rate for motor vehicle expenses is 72 cents per kilometre, for the income year commencing 1 July 2020.
This rate applies to all eligible taxpayers who elect to use the cents per kilometre method when calculating income tax deductions for their work-related car expenses.
For more information, refer to the Federal Register of Legislation.
Title | Version | Authored on |
---|---|---|
Cents per Kilometre Deduction Rate for Car Expenses 2020 | 26 Jun 2020 | |
Cents per Kilometre Deduction Rate for Car Expenses 2018 | 19 Jul 2018 |
Last modified date