Income Tax Assessment Act 1997
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:
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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