What Is The Mileage Rate For 2024 In Ontario. This bifurcation reflects an understanding of vehicle. For 2024, the department of finance canada made some notable changes to the automobile income tax deduction limits and mileage rates, with the initial mileage rate increasing to 70.
Use the prescribed rate (section 7306 of the itr) per kilometre of personal driving to calculate the. July 1, 2024 the kilometric rates (payable in cents per kilometre) below are payable in canadian funds only.