Standard Mileage Rate 2024 Nz

Standard Mileage Rate 2024 Nz. The rates set out below apply for the 2023/2024 income year for business motor vehicle expenditure claims. Tier 1 rates have reduced to reflect.

The mileage rate is updated every year by your tax authority and is meant to cover all costs of owning and running. The new rules require such people to choose between using the costs method (which is based on keeping records of actual costs incurred) or a kilometre rate.