Cents per Kilometre Deduction Rate for Car Expenses 2020

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.

Last modified date
Fri 26 Jun 2020