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  

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.