If I am using my vehicle for travel to a contract location, what is the per kilometre rate I should charge for mileage?
I've only found this old IRS Runzheimer rate on my Google search:
Originally Posted by IRS
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Nov 9th, 2007 12:28 PM #1
What's the current charge-out rate for vehicle mileage?
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Nov 9th, 2007 01:00 PM #2
Here are some rates from Canada Revenue Agency:
Rate used to calculate travel expenses:
http://www.cra-arc.gc.ca/tax/individ...5/rates-e.html
Rate used for automobile allowances:
http://www.cra-arc.gc.ca/tax/busines...e/rates-e.html
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Nov 12th, 2007 09:28 AM #3
My company pays $.50/km.
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Nov 12th, 2007 11:07 AM #4
I think the gov't standard right now is 0.485 $/km
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Nov 12th, 2007 01:25 PM #5
cadave provided the exact rates for 2007 in this thread. Major corporations may choose to re-imburse employees at a higher rate but as a "non-arms length" small business, paying yourself more than the prescribed rate (50/44) will not be easily defensible when CRA comes calling.
BTW: The rates remained unchanged in 2006 and 2007 so let's hope we get an increase for 2008.
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Nov 12th, 2007 05:19 PM #6_______________
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Nov 13th, 2007 09:18 AM #7
lucky ducks, we only get 0.45c/km but the word is a bump up to 48 or even 50cents
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Nov 14th, 2007 01:58 PM #8
Thanks! I'm gonna charge my client 50¢/km.
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Nov 14th, 2007 05:40 PM #9
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Nov 15th, 2007 02:22 AM #10
I misunderstood the OP too. I thought when you said "charge" you were referring to the amount you would charge your company for use of your personal vehicle (i.e. tax deduction) not what you actually wanted to invoice your customers. That is definitely between you and the client.
BTW: Correct me if I'm wrong but I think that is taxable revenue to your firm, just like when lawyers charge for photocopies. If you want to turn it into a separate re-imburseable expense claim you'll need to stick to CRA rates.
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Nov 16th, 2007 10:19 AM #11
Though they are for separate purposes, the rate should be reasonable and in line with each other. Actually if I were working on contract for a second party, I would be reimbursed at a set standard rate too. So it's essentially in harmony.
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