Pauli Bethanne

Mileage Reimbursement 2024 Nz Tax. If you are a sole trader or qualifying close company and use the kilometre rate method to claim business vehicle costs, this new rate applies for the 2023 year, being the year 1. Individuals and families ngā tāngata me ngā whānau.

The tier 1 rates reflect an overall increase in vehicle running costs largely due to fuel costs. You can claim vehicle expenses using ird’s reimbursing rate, (x cents per kilometre) but you’ll need to keep an ongoing log of all your business.