Personal Car Mileage Rate 2021. According to the society for human resource management (shrm), there are alternatives to mileage reimbursement as ways for employers to compensate employees for. The formula for calculating the reimbursement amount is.
Irs standard mileage rates from july 1, 2022, to december 31, 2022: The 2021 reasonable vehicle allowance rate per kilometre (km) is as follows: The standard mileage rate for business is based on an annual study of the.
Approved mileage rates from tax year 2011 to 2012 to present date.
The tier 2 rate is for running costs only. An additional 4¢ per km driven in the northwest territories, nunavut, and. 15 rows find optional standard mileage rates to calculate the deductible cost of operating a. Let’s say your employee drove 1,500 kilometers, and the cra mileage rate 2022 is 61¢ for the first 5,000 kilometers driven.