Kilometre rates for 2024 Income year.
The table below outlines the rates you can claim for business motors vehicle expenditure for the 2024 income year.
The Tier 1 rate is a combination of your vehicle’s fixed and running costs for the business portion of the first 14,000 kilometres travelled by the vehicle in a year.
The Tier 2 rate is for running costs only. Use tier 2 for the business portion of any travel over 14,000 kilometres in a year.
| Vehicle type | Tier 1 rate per km | Tier 2 rate per km |
| Petrol or diesel | $1.04 | 35 cents |
| Petrol hybrid | $1.04 | 21 cents |
| Electric | $1.04 | 12 cents |
Learn more about using kilometre rates HERE
Learn more about Claiming Vehicle expenses HERE