Business Mileage Rate 2024 Canada. 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 increasing to 70 cents per kilometre for the first 5,000 kilometers driven. The canada revenue agency has announced the new 2024 mileage rates:

The best evidence to support the use of a vehicle is an accurate logbook of business travel maintained for the entire year, showing for each business trip, the destination, the reason for the trip and the distance covered. The cra mileage rate in 2024 is set to: