Mileage Rate 2024 Cr …

Mileage Rate 2024 Cra. This documentation ensures adherence to cra regulations, allowing for the calculation of a reimbursement allowance, with the rate capped at the specified maximum allowance. The general prescribed rate used to determine the taxable benefit of employees relating to the personal portion of automobile expenses paid by their.

An input tax credit can be claimed by the employer based on the mileage allowance paid to the employees or officers. Rates are reviewed on a quarterly basis.