
Car parking costs are treated the same as other vehicle expenses deductible to the. Before the 2018 income year, if the kilometre rates are used, the claim will be limited to 5,000 kilometres.
However, you may be asked to substantiate the percentage claimed.
"IRS Announces 2012 Standard Mileage Rates". The claim will be limited to 25 of the vehicle running costs as a business expense. "IRS Announces 2011 Standard Mileage Rates". "Privately Owned Vehicle (POV) Mileage Reimbursement Rates". of the Treasury (for applicable years) IRS Rev. IRS Document 463 Form 2106, Internal Revenue Service, U.S. Reimbursement by an employer on a per-mile basis is also used in other countries it offers a similar simplification to payment of subsistence per diem. In general, the GSA rate matches the annual rate set by the IRS, although by law the government employee reimbursement rate cannot exceed the mileage rate set by the IRS for business deductions. The General Services Administration (GSA) sets the rate for federal jobs. The business mileage reimbursement rate is used by some employers for computing employee reimbursement amounts when an employee operates a motor vehicle not owned by the employer for the employer's business purposes. Under the law, the taxpayer for each year is generally entitled to deduct either the actual expense amount, or an amount computed using the standard mileage rate, whichever is greater. § 162, for the business use of a vehicle.
The business mileage reimbursement rate is an optional standard mileage rate used in the United States for purposes of computing the allowable business deduction, for Federal income tax purposes under the Internal Revenue Code, at 26 U.S.C.