Cents per km for car expenses 2024-25 and after
July 22, 2024
The ATO has registered the Income Tax Assessment (Cents per Kilometre Deduction Rate for Car Expenses) Determination 2024, with effect from 1 July 2024. The Instrument sets the rate at 88 cents per KM (85 cents previously) at which work-related car expense deductions may be claimed in an income year when using the cents per kilometre method.