Australia Tax Agency Seeks Comments on Cents-Per-Kilometer Work-Related Car Expense Deduction Rate

The Australian Taxation Office May 27 opened a consultation on Draft Legislative Instrument No. LI 2026/D12 and an accompanying draft explanatory statement, on the work-related car expense deduction rate under the cents-per-kilometer method, for income year 2026-2027. The draft instrument includes measures to increase, A$0.91 (US$0.65) per kilometer, from A$0.88 (US$0.63) per kilometer, the work-related car expense deduction rate, from July 1. The instrument would take effect July 1. Comments are due June 12. [Australia, Australian Taxation Office, 05/27/26]

Reference: View Draft Legislative Instrument No. LI 2026/D12. View Explanatory Statement for Draft Legislative Instrument No. LI 2026/D12. View ...