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Kilometre rate or cost method for vehicle deductions

Operational statement 19/04A1 sets out the commissioner's statement on using a kilometre rate for business deductions of a running motor vehicle - deductions.

Income Tax Act 2007 Section DE 2B, Election to use kilometre rate method or costs method2 in Subpart DE—Motor vehicle expenditure, prescribes the election of either a kilometre rate method or a cost method for apportioning the use of a motor vehicle when it's partly used for business and other purposes. If no election is done, the cost method is assumed. Once a method is elected it cannot be revoked.

Section DE6 - DE11 deals with using a logbook.

1.https://www.taxtechnical.ird.govt.nz/-/media/project/ir/tt/pdfs/operational-statements/os-1904a.pdf

2.https://www.legislation.govt.nz/act/public/2007/0097/latest/DLM7271117.html