Cents per Kilometre deduction rate raise

June 14, 2020

The ATO will raise the cents per kilometre deduction rate for motor vehicle expenses to 72 cents from the start of 1 July 2020.

The cents per kilometre method currently allows taxpayers to claim up to a maximum of 5,000 business kilometres per car per year, without requiring written evidence.

Contact our office for further details – kelly@accountbs.com.au or 03 5331 3118