85 cents per kilometre for 2023-24; 78 cents per kilometre for 2022-23; 72 cents per kilometre for 2020-21 and 2021-22; 68 cents per kilometre for 2018-19 and 2019-20; 66 cents per kilometre for 2017-18. How you use this method. To work out how much you can claim, multiply the total business kilometres you travelled by the rate.. The cents per kilometre method uses a set rate for each work-related kilometre travelled up to a maximum of 5,000 kilometres per car, per year. For the 2022-23 income year the rate per kilometre has increased from 72c to 78c. Limitations. You can’t use this calculator to calculate any expenses relating to: motorcycles; vehicles with a.
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A National Transport Commission (NTC) study in 2008 found a link between low rates of pay and poor safety in the trucking industry. A regulatory impact statement released prior to the establishment of the RSRT found that 29 per cent of Australia’s 71,000 owner-drivers were working for less than the minimum wage.. Step 5: Finance (per vehicle) Loan repayments are calculated based on constant payments and a constant interest rate (averaged). Balloon is the residual lump sum payment payable at the end of the loan (if selected to be used). Depreciation rates and limits are set by the Tax Office.