The Commissioner has updated the kilometre rates for the 2021–2022 income year to be used for motor vehicle expenditure claims.
The tier one rate increases from 79 cents to 83 cents per kilometre, largely because of steeper fuel costs. The tier two rate (which is for running costs only and applies for the business portion of any travel in excess of 14,000 kms) increases from 27 cents to 31 cents (petrol and diesel), from 16 cents to 18 cents (hybrid) and from 9 cents to 10 cents (electric).
If you have any questions regarding reimbursing for business use of a private vehicle, give us a call.
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