Cra Mileage Rate 2024. 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. Rates are reviewed on a quarterly basis.
The 2024 cra mileage rate in ontario is set to 70 cents per kilometer for the first 5,000 kilometers driven and 64 cents for. The cra reviews and adjusts mileage rates annually based on factors such as the average costs of vehicle ownership and.