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).
This 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.
Taxi operators and drivers can use the rate to:
- compare their performance to the rest of the taxi industry; and
- check that their tax records accurately reflect their income.
The ATO also uses the cents per km rate where taxi operators or drivers do not have proper records.