What Is The Mileage Rate For 2024 In Ontario

What Is The Mileage Rate For 2024 In Ontario. Here’s the cra’s automobile allowance rates for the past five years: Cra mileage rates for 2024.

Use the prescribed rate (section 7306 of the itr) per kilometre of personal driving to calculate the. 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.