Ontario Mileage Reimbursement Rate 2024. You may provide an allowance or a reimbursement to your employee to compensate for use of their automobile or motor vehicle in connection with or in the course of their office or employment duties. Here’s a breakdown of the recent revisions:
This documentation ensures adherence to cra regulations, allowing for the calculation of a reimbursement allowance, with the rate capped at the specified maximum allowance rates. This bifurcation reflects an understanding of vehicle operation costs.
