The IRD has announced new kilometre rates for the income year 1 April 2024 to 31 March 2025. This year marks a significant shift: separate Tier 1 rates now apply to different types of vehicles, reflecting the varying costs of fuel, maintenance, insurance, depreciation, and electricity.
| Vehicle Type | Tier 1 rate per km (first 14,000km) | Tier 2 rate per km (after 14,000km) |
| Petrol | $1.17 | 37 cents |
| Diesel | $1.26 | 35 cents |
| Petrol hybrid | 86 cents | 21 cents |
| Electric | $1.08 | 19 cents |
Source – IRD