Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p30
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 30/37)
Character Range: 466626–468890

of producing your assessable income.

Operative provisions

28‑115  Income years for which you need to keep a log book
 (1) You need to keep a log book for the first income year for which you use this method for the *car.
 (2) Having kept a log book for one income year, you don't need to keep a new one for the next 4 or more income years unless subsection (3) or (4) requires it. If you haven't kept a new log book for 4 income years in a row, you must keep one for the next income year.
Example: If you keep a log book in 1997‑98, you would need to keep the next one in 2002‑2003, unless subsection (3) or (4) requires one sooner.
 (3) You must keep a log book for an income year if the Commissioner sends you a notice before the year directing you to keep a log book for the *car for that year.
 (4) You must keep a log book for an income year if, during that year, you get one or more additional *cars for which you want to use the "log book" method for that year.
 (5) When you replace one *car with another, you might have a period when you *hold both the new car and the old car, or a period when you no longer *hold the old car but do not yet hold the new car. In both these cases, you are treated for the purposes of subsection (4) as if you held the one car continuously.
 (6) You may choose to keep a log book for an income year even if you don't need to; for example, because you want to establish a higher *business use percentage.

28‑120  Choosing the 12 week period for a log book
 (1) The log book must cover a continuous period of at least 12 weeks throughout which you *held the *car. If you hold the car for less than 12 weeks, the period must be the entire period for which you held the car.
 (2) The period may overlap the start or end of the income year, so long as it includes part of the year.
 (3) If you want to use the "log book" method for 2 or more *cars for the same income year, the log books for those cars must cover periods that are concurrent.

28‑125  How to keep a log book
 (1) It is in your interests to record in the log book any journey made in the *car during the log book period in the course of producing your assessable income. If a journey is not recorded, the log book will indicate a lower *business use percentage