INCOME TAX ASSESSMENT ACT 1936 (ARCHIVE)
Calculating car expense deductions
TABLE OF DIVISIONS
|1||Overview of the main points in this Schedule|
|2||Choosing which method to use|
|3||The ``cents per kilometre'' method|
|4||The ``12% of original value'' method|
|5||The ``one-third of actual expenses'' method|
|6||The ``log book'' method|
|7||Keeping a log book|
|8||Odometer records for a period|
|9||Retaining the log book and odometer records|
|10||Situations where you don't need to use one of the 4 methods|
|11||Definitions of ``car'', ``car expense'', ``holding a car'' and ``owning a car''|
If you hire a car under a hire-purchase agreement, you are treated as the owner of the car for the purposes of this Schedule.
Sch 2A inserted by No 30 of 1995.
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