2023 Mileage Rate Claim Update

For those who use the kilometer based claim method to account for motor vehicle expenses - good news!

These rates are going up for the 2023 financial year, as follows:

These rates can be used for businesses that have kept a logbook of actual business related mileage / trips, and have not otherwise claimed the actual petrol or vehicle repair costs that they have incurred (i.e. a business cannot claim both).

The rates are also applicable for reimbursement of your employees for mileage claims that they make for use of their private vehicles for business purposes.

If you would like to discuss the above further to see if these rates may be relevant to you, or to discuss alternative ways to claim motor vehicle expenses - please contact your usual Martin Davidson & Associates advisor.