IRD Mileage Rates for Motor Vehicles
Grange Associates Ltd - 12 September 2012 (updated 3 September 2013, 13 June 2014, 24 August 2015, 3 June
2016, 26 May 2017)
2017 Update:
The IRD mileage rates have
been updated for the 2017/18 year to 73 cents per kilometre for petrol, diesel and
hybrid vehicles.
They have also introduced a new rate of 81 cents per kilometre for electric vehicles.
These rates can be used for up to a maximum of 5,000 kilometres of work-related travel each year.
2016 Update:
The IRD has undertaken its annual review of motor vehicle mileage rates and has
reduced the rate to 72 cents per kilometre for both petrol and diesel vehicles.
For further information regarding business use of motor vehicles,
check out our article on Tax Treatments of Motor
Vehicles.
2015 Update:
The Inland Revenue Department has recently reviewed the motor vehicle mileage rate to reflect the average costs of
running a vehicle and has reduced the mileage rate for the 2015 income year to 74 cents per kilometre. It was
previously 77 cents per kilometre.
This new rate of 74c applies to both petrol and diesel fuelled vehicles.
The rate does not apply for motorcycles.
2014 Update:
On 13 June 2014, Inland Revenue announced that once again the rate will remain unchanged at
77 cents per kilometre for both petrol and diesel vehicles.
2013 Update:
On 27 August 2013, Inland Revenue announced they had reviewed the motor vehicle mileage rate and advised the
mileage rate for the 2013 income year will remain at 77 cents per kilometre for both petrol and diesel fuel
vehicles.
2012:
The Inland Revenue Department has recently reviewed the motor vehicle mileage rate to reflect the
average costs of running a vehicle and has increased the mileage rate for the 2012 income year to 77 cents per
kilometre. It was previously 74 cents per kilometre.
This new rate of 77c applies for both petrol and diesel fuelled
vehicles.
All information is correct at the date of article
publication. Please note we provide the information as a service only. Accordingly, the contents are
not intended as a substitute for specific professional advice and should not be relied upon for that
purpose. |
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