The IRD's mileage rate has been increased to 73 cents per km (up from 72 cents) effective for the 2017 financial year. This applies to both petrol & diesel fuel vehicles. The increase is largely due to higher average fuel costs and a slight increase in fixed vehicle costs during the 2017 Financial Year.

For the first time, they have also set mileage rates for hybrid & electric cars. These rates are:

Hybrid - 73 cents per km

Electric - 81 cents per km

If you charge your customers for travel based on the IRD rate, you may consider updating your invoice templates.

Posted 19/05/2017

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