27 Apr 11 Cents per kilometre rates for calculating tax deductible motor vehicle expenses - regs made

Income Tax Assessment Amendment Regulations 2011 (No 3) was made on 21 April 2011 and registered on the Federal Register of Legislative Instruments on 21 April 2011 as Select Legislative Instrument 2011 No 57.

The Regulations amend the Income Tax Assessment Regulations 1997 to determine cents per kilometre rates for calculating tax deductible motor vehicle expenses for 2010-11.

The rates for the 2010-11 income year have not changed from the 2009-10 rates because the Private Motoring Subgroup index at September 2010 was still below its level at September 2008. The rates are as follows:

 

Description

Engine capacity of car not powered by a rotary engine (cc)

Engine capacity of car powered by a rotary engine (cc)

Rate per kilometre (cents)

Small car

Not exceeding 1600cc

Not exceeding 800cc

63

Medium car

Exceeding 1600cc but not exceeding 2600cc

Exceeding 800cc but not exceeding 1300cc

74

Large car

Exceeding 2600cc

Exceeding 1300cc

75

 

For a copy of the Explanatory Statement, click on the Explanatory Statement tab.

 

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