Standard Mileage Rate 2024 Nz

Standard Mileage Rate 2024 Nz. This new rate applies for the 2024 year (i.e., 1 april 2023—31. The tier 1 rates reflect an overall increase in vehicle running costs largely due to fuel costs.

The rates set out below apply for the 2023/2024 income year for business motor vehicle expenditure claims. Sole traders or qualifying close companies can use the kilometer rate method to claim business vehicle costs;