Ask an expert
I know that IRD mileage rate is .77ckms, but my car is a 2002 BMW 318I 2lTr, and I feel that the rate is way to low, can you please let me know what you think.
Sorry I forgot to add that I do a daily trip to get the mail in my own car, and my car is very expensive to run and last week just spent $1200.00 on new brakes, service and the special oils it takes. So the kms i clock up for work a week are at least 75kms, at .77c doesnt add up to much. Or should I be doing this another way so I dont feel that its costing me to collect work mail.
The IRD rate is an average rate and it's higher than we would expect for a 2.0L petrol vehicle at 77 c/km. The AA Running costs for a 2.0L petrol is 64.2c/km.
With depreciation being the biggest component for the running costs your vehicle will actually be a lot less as its 12 years old. The AA Running costs is calculated for newer vehicles.
The Running costs should be used as a tool to negotiate a fair re-imbursement rate from your employer.
Hello, can you please advise what most updated mileage rate is for the Petrol compact car travelling up to 7,000km per year is?