2024 Mileage Rate Nz. The tier 1 rate is a combination of your vehicle's fixed and running costs. Every year the commissioner of the inland revenue sets the motor vehicle kilometre expense rates for businesses.
More information is available on the inland revenue website www.ird.govt.nz/ (search keywords “claiming vehicle expenses”). The tier one rates reflect an overall increase in vehicle running costs largely due to fuel costs, insurance and interest rates.
