Mileage Rate For 2024 Canada Tax. 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. $0.70 per kilometer for the first 5,000 kilometers driven

A vehicle allowance will be considered a taxable benefit if an employee or officer is paid: Use the prescribed rate (section 7306 of the itr) per kilometre of personal driving to.