Tax and Superannuation Laws Amendment (2015 Measures No. 5) Act 2015 (162 of 2015)

Schedule 1   Modernising the car expense deduction rules

Part 1   Main amendments

Income Tax Assessment Act 1997

1   Subsection 28-25(1)

Repeal the subsection, substitute:

(1) To calculate your deduction using the "cents per kilometre" method, use this formula: