INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)

PART III - LIABILITY TO TAXATION  

Division 3 - Deductions  

Subdivision F - Substantiation of certain expenses of years of income up to and including 1993-94  

SECTION 82KTG   82KTG   LOG BOOK YEAR OF INCOME  
For the purposes of this Subdivision, a year of income (in this section called the current year of income ) is a log book year of income of a taxpayer in relation to a particular car (in this section called the deductible car ) if, and only if:


(a) the current year of income is the first year of income in which section 82KUD is applied for the purpose of determining the amount of the deductions allowable under this Act in respect of car expenses incurred by the taxpayer in relation to the deductible car;


(b) the taxpayer elects that the current year of income be treated as a log book year of income of the taxpayer in relation to the deductible car;


(c) the taxpayer has elected that subsection 82KW(2) or (3) or 82KX (1) apply in relation to the deductible car in relation to the preceding year of income;


(d) both of the following conditions are satisfied:


(i) section 82KUD is applied for the purpose of determining the amount of the deductions allowable under this Act in respect of car expenses incurred by the taxpayer in the preceding year of income that relate to one or more cars (but not counting any car held at a time in the year of income pending its replacement, for use in the course of producing assessable income of the taxpayer, by another log book car);

(ii) that section is applied for the purpose of determining the deductions allowable under this Act in respect of car expenses incurred by the taxpayer in the current year of income that relate to a number of cars (but not counting any car held at a time in the year of income pending its replacement, for use in the course of producing assessable income of the taxpayer, by another log book car) that exceeds the number of cars referred to in subparagraph (i);


(e) both of the following conditions are satisfied:


(i) the taxpayer owned or leased the deductible car during a period in the preceding year of income;

(ii) a deduction was not allowable to the taxpayer:

(A) in respect of a car expense that related to the deductible car and was incurred by the taxpayer in the preceding year of income; or

(B) under subsection 82KW(3) or section 82KX in relation to the deductible car in relation to the preceding year of income;


(f) the preceding year of income was a log book year of income of the taxpayer in relation to the deductible car and either of the following conditions is satisfied:


(i) subparagraph 82KUB(a)(i), (ii), (iii) or (iv) applied in relation to the deductible car in relation to the preceding year of income;

(ii) the conditions set out in subparagraphs 82KUB(b)(iii) and (iv) or the conditions set out in subparagraphs 82KUB(c)(i) and (ii) , as the case may be, were not satisfied in relation to the deductible car in relation to the preceding year of income;


(g) the preceding year of income was not a log book year of income of the taxpayer in relation to the deductible car and any of the following conditions is satisfied:


(i) the condition set out in paragraph 82KUC(a) was not satisfied in relation to the deductible car in relation to the preceding year of income;

(ii) the condition set out in sub-subparagraph 82KUC(b)(i)(A) or (B) or subparagraph 82KUC(b)(ii) , as the case may be, was not satisfied in relation to the deductible car in relation to the preceding year of income;

(iii) both of the following conditions are satisfied:

(A) the taxpayer specified (otherwise than by virtue of section 82KUE ), in the taxpayer's car records for the preceding year of income, a percentage of the kind mentioned in subparagraph 82KUC(b)(iii) ;

(B) the percentage calculated in accordance with the formula referred to in that subparagraph exceeded 10%;


(h) the Commissioner causes a notice in writing to be served on the taxpayer before the commencement of the current year of income requiring the taxpayer to treat the current year of income as a log book year of income of the taxpayer in relation to the deductible car; or


(j) both of the following conditions are satisfied:


(i) the whole or a part of at least one car expense incurred by the taxpayer in the preceding year of income in relation to the deductible car is an eligible expense in relation to which subsection 82KZBA(1) applies or has applied;

(ii) section 82KUD was not applied for the purpose of determining the amount of any deduction allowable under this Act in respect of car expenses incurred by the taxpayer in relation to the deductible car in the preceding year of income.

 

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