Australia Gazettes Legislative Instrument Setting Deduction Rate for Work-Related Car Expenses

The Australian Official Gazette June 13 published a legislative instrument increasing the deduction rate for work-related car expenses to A$0.85 (US$0.57) per kilometer, from A$0.78 (US$0.52) per kilometer, for income years beginning on or after July 1. The legislative instrument takes effect July 1. [Australia, Government Legal Database, 06/13/23]

Reference: View Income Tax Assessment (Cents per Kilometer Deduction Rate for Car Expenses) Determination 2023, Official Gazette No. F2023L00767. View Index.