'Income Tax Assessment Act - Cents per kilometre deduction rate for motor vehicle expenses'
Reference: MVE 2016/1
Document type: Legislative Instrument
Enabling act: Income Tax Assessment Act 1997 Taxation Administration Act 1953
Date of issue: 1 July 2016
Signatory: Signed Emma Haines Acting Deputy Commissioner of Taxation
Registration number: F2016L01157
Registration date: 4 July 2016


1. Name of instrument: This instrument is the 'Income Tax Assessment Act - Cents per kilometre deduction rate for motor vehicle expenses'. | 2. Commencement: This instrument is taken to have commenced on 1 July 2016. | 3. Application: This instrument applies to work-related motor vehicle expense deductions, and sets the rate at which those deductions may be calculated using the cents per kilometre method. Subsection 28-25(4) of the Income Tax Assessment Act 1997 allows the Commissioner of Taxation to determine the rate for the cents per kilometre method for an income year. The Commissioner of Taxation has determined that the rate is 66 cents per kilometre for the income year commencing 1 July 2016. This rate applies to the income year commencing 1 July 2016, and remains applicable to subsequent income years until such time as the Commissioner of Taxation, having regard to subsection 28-25(5), determines that it should be varied. | 4. Determination (Who is covered by this Determination): This determination applies to eligible taxpayers who elect to use the cents per kilometre method when calculating income tax deductions for their work-related motor vehicle expenses.