The Income Tax Assessment Amendment Regulation 2012 (No 1) was registered on the Federal Register of Legislative Instruments on 11 April 2012. It sets the “cents per kilometre” rates for calculating tax deductions for car expenses in the 2011-12 income year. Those rates remain unchanged from the 2010-11 year and are:
Car expense rates per km for 2011-12
|
Type of car |
Engine capacity – non-rotary engine (cc) |
Engine capacity – rotary engine (cc) |
Kilometre rate (cents) |
| Small car |
0 – 1,600 |
0 – 800 |
63 |
| Medium car |
1,601 – 2,600 |
801 – 1,300 |
74 |
| Large car |
2,601 + |
1,301 + |
75 |
[LTN 69, 12/4]