Libbi Rozele

2024 Mileage Rate Nz Government. If you are a sole trader or qualifying close company and use the kilometre rate method to claim business vehicle costs, this new rate applies for the 2023 year, being the year. The tier 1 rate is a combination of your vehicle's fixed and running costs.

If you are a sole trader or qualifying close company and use the kilometre rate method to claim business vehicle costs, this new rate applies for the 2023 year, being the year. The tier one rates reflect an overall increase in vehicle running costs largely due to fuel costs, insurance and interest rates.