Taxi cents per kilometer rates
The current taxi cents per kilometre earnings rate (for the 2012 income year) is $1.27/km (up from $1.24/km for the 2011 income year). The cents per kilometre earnings rate is the average amount of gross income earned by a taxi for the total kilometres travelled by the taxi in a year, including GST, and has been developed in consultation with taxi industry participants. Taxi operators and drivers can use the cents per kilometre rate to:
- compare their performance to the rest of the taxi industry; and
- check that their tax records accurately reflect their income.
The ATO uses the cents per kilometre rate in cases where taxi operators or drivers do not have proper records, but tax agents and accountants can use the cents per kilometre rate to assist them in preparing tax returns and business activity statements for their clients.
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