Cents per kilometre increase

The cents per kilometre rate for motor vehicle expenses for 2023-24 has increased to 85 cents.

For more information and instructions on how to use this claim method, visit the Australian Taxation Office Website.

Note: The material and contents provided in this publication are informative in nature only.  It is not intended to be advice and you should not act specifically on the basis of this information alone.  If expert assistance is required, professional advice should be obtained.

Schedule a consultation with a business expert.

Get expert advice

At Latter Kennedy, we do more than just financial services and tax returns. Schedule an obligation-free consultation and let us help you to get back on track to achieving your accounting, business and taxation goals.

Schedule a Consultation
lk images 87
View all Insights
  • pexels kindelmedia 7578848

    Downsizer Contributions and the Main Residence Exemption

    When clients sell a long-held family home, they may be able to channel part of the proceeds into superannuation by using the downsizer contribution rules. Basic Eligibility Conditions To qualify, the seller must meet a number of conditions: The downsizer contribution can only be used once per individual and is limited to the lesser of the gross sale proceeds or…

    Superannuation
  • pexels firmbee com 22729701 6961859

    AI Tax Tips: Helpful Shortcut or Costly Trap?

    As a business owner or investor, time is always tight. So it’s no surprise many people now turn to AI tools like ChatGPT for quick answers on tax deductions, super contributions or structuring ideas. The responses sound confident, arrive instantly and cost nothing. What could go wrong? Plenty. The Australian tax and super system is complex, highly fact-specific and constantly…

    Taxation
  • pexels hyundaimotorgroup 29074374
View all Insights