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INCOME TAX ASSESSMENT ACT 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 28 - Car expenses  

Subdivision 28-F - The " log book " method  

SECTION 28-100  Substantiation  

 ITAA 36

28-100(1)  

To use this method, you must substantiate the * car expenses under Subdivision 900-C .

28-100(2)  

You must also keep a log book. Subdivision 28-G explains:

· how often you need to keep a log book;
· how to keep a log book.

The log book is relevant to estimating the number of business kilometres the * car travelled in the period when you * held it during the income year.

28-100(3)  

You must keep odometer records for the period when you * held the * car during the income year. Subdivision 28-H tells you about odometer records, which document the total number of kilometres the car travelled in that period.

28-100(4)  

You must record the following information, in writing, before you lodge your * income tax return:


(a) your estimate of the number of * business kilometres; and


(b) the * business use percentage.

However, the Commissioner may allow you to record the information later.

28-100(5)  

You must retain the log book and the odometer records. Subdivision 28-I has the rules about this.

 



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