FREE Mileage Reimbursement Calculator for Canada (2024 CRA Rates)
2024 CRA Mileage Rate Calculator: Using a mileage reimbursement calculator that reflects the current CRA mileage rates is the key to issuing accurate reimbursements.
Did You Know?
The CRA mandates detailed mileage logs to substantiate tax-free employee reimbursements and business mileage deductions. Accurate mileage tracking is essential for compliance and avoiding potential audits.
Timeero can help you automate mileage tracking and ensure CRA compliance! Schedule a free consultation with our experts today!
How Do I Use the Mileage Reimbursement Calculator for Canada?
Managing employee mileage reimbursements doesn't have to be a hassle. Our free, user-friendly mileage reimbursement calculator for Canada helps you accurately calculate your business travel expenses and potential tax deductions based on the latest 2024 CRA mileage rates.
- Enter Your Total Kilometers. Input the total distance you drove for business purposes.
- Select Year or Custom Rate. Choose the year or enter a custom rate if your business uses different rates.
- Select Your Province/Territory. Choose your location to ensure accurate calculations based on your region’s specific reimbursement rates.
- Click “Calculate”. Instantly see your estimated reimbursement or deduction amount
Up-to-Date CRA Mileage Rates
The Canada Revenue Agency sets an annual standard mileage rate. Our free mileage reimbursement calculator for Canada automatically applies the current 2024 CRA mileage rates:
- Up to 5,000 km: 70¢/km (64¢/km for mileage thereafter)
- Northwest Territories, Yukon and Nunavut: Additional 4¢/km
Why Is Timeero the Ultimate Mileage Tracking Solution for Canadian Employers?
While mileage reimbursement calculators are a great starting point, Timeero’s mileage tracker will take your business-related mileage management to the next level.
Here's how Timeero transforms mileage tracking for Canadian businesses:
Accurate & Reliable
With precise GPS tracking, your mileage logs remain accurate and reliable. With precise records, your business minimizes the risk of missed deductions or discrepancies with the CRA.
Knowing your records are backed by verifiable data, you can confidently reimburse employees for business expenses and claim deductions.
CRA Compliance
Timeero is designed with the CRA guidelines in mind. Timeero produces mileage logs that meet tax deduction requirements, reducing the potential risk of facing audits and penalties.
By using Timeero’s workforce management features, you can confidently create and enforce your company’s mileage reimbursement policy.
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Save Time & Money
Timeero’s “Route Replay” and “Suggested Mileage” features allow you to reduce overall mileage costs and improve operational efficiency by analyzing travel patterns and optimizing your employees' routes.
Automated Mileage Tracking
Timeero’s GPS technology automatically captures every business kilometer driven, eliminating error-prone manual tracking. With Timeero’s offline tracking, no business trips are left unrecorded.
To accurately track business use of their personal vehicles, all your employees need to do is clock in with their mobile devices. When the app recognizes their driving speed, it will automatically begin logging the mileage and route they take.
Effortless Reporting
Timeero generates detailed mileage reports, including details such as work-related trip dates, destinations, purposes, and total kilometers driven.
These reports simplify tax preparation, streamline expense reimbursements, and provide valuable insights into your team's travel patterns.
Data Security & Accessibility
Timeero securely stores your mileage records in the cloud, protecting them from loss or unauthorized access. You can easily access and manage your data from anywhere, at any time.
Seamless Payroll Integration
Timeero’s capabilities go beyond calculating reimbursements. The app seamlessly integrates with popular payroll and accounting software, allowing you to upload accurate mileage data for quick, error-free reimbursements.
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Interested in learning more about the best employee mileage-tracking apps on the market today? We’ve tested the top options and compared the results.
Pro Tip for Canadian Business Owners: Crafting a Clear Mileage Reimbursement Policy
To avoid any conflict when it comes to reimbursements, we recommend creating a written mileage reimbursement policy that includes the following details:
- Which trips qualify for reimbursement? Provide examples of approved business related travel (client meetings and deliveries) as well as non reimbursable travel (commute mileage).
- What reimbursement rate will be used? Indicate if you will be using the CRA rate or a company-specific rate for reimbursement.
- What documentation is required to submit a claim? Identify which records must be provided when submitting a reimbursement claim (e.g., mileage logbook, trip details, Timeero logs).
Looking for policy examples? Check out our article to learn how to create a mileage reimbursement policy. You can also download a free policy template and customize it to meet your company needs.
Streamline Mileage Reimbursements & Maximize Tax Benefits with Timeero
From tracking work mileage to preparing reports for tax season, Timeero simplifies the entire mileage reimbursement process. Read our detailed Timeero review to learn about the unique benefits our app can bring to your business.
Disclaimer: While we strive for accuracy, the results provided by this calculator are for informational purposes only. Actual reimbursement amounts may vary based on your company's specific policies and individual circumstances. Please consult with your financial advisor or HR department for precise calculations and reimbursement policies.
