GRA Blogs

Articles by John Rowe

John Rowe

New Vehicle Mileage Rates You Should Know

2469

Inland Revenue has advised the new mileage rate for motor vehicles is 77 cents per kilometre. This rate applies to self employed taxpayers with up to a maximum of 5,000 kilometres of work-related travel each year. This applies to all motor vehicles (except motorcycles) irrespective of their engine sizes or whether powered by petrol or diesel and applies from the 2011-2012 income year onwards.  

The rate may be used by employers reimbursing employees for the business use of an employee's motor vehicle. This entitlement extends to shareholder- employees as well.  However, there are other options may be used to establish a fair and reasonable rate for claims or reimbursements (for example, AA rates). 

**Note, the rules and the per kilometre rate change regularly and the rates above were accurate at the date of this blog (March 2013). For up-to-date rates, visit the IRD website.

If you would like to discuss how these measures may affect you, please contact us.






John Rowe
signed
John Rowe
Director
Business Accounting Services
© Gilligan Rowe & Associates LP

Did you like this article? Subscribe to our newsletter to receive tips, updates and useful information to help you protect your assets and grow your net worth. We're expert accountants providing expert advice to clients in NZ and around the world.

Disclaimer: This article is intended to provide only a summary of the issues associated with the topics covered. It does not purport to be comprehensive nor to provide specific advice. No person should act in reliance on any statement contained within this article without first obtaining specific professional advice. If you require any further information or advice on any matter covered within this article, please contact the author.
Comments

Add a Comment

Log in or sign up to post a comment

Testimonials
My wife and I attended the Leaders event. It was a good day and a really good range of topics were included. Thank you for putting it on. - Graham C, May 2018
We can help
Here's how

GRA logo

Gilligan Rowe and Associates is a chartered accounting firm specialising in property, asset planning, legal structures, taxation and compliance.

We help new, small and medium property investors become long-term successful investors through our education programmes and property portfolio planning advice. With our deep knowledge and experience, we have assisted hundreds of clients build wealth through property investment.

Learn More
GRA Senior Partners
TOP