Car log details | 2023 Gotax

How do I keep a log book for my Car to claim in my tax?

If you’re using the logbook method to calculate your car expenses in Australia, you’ll need to keep a logbook to record your business-related car trips. The Australian Taxation Office states that your logbook must contain the following information:

• When the logbook period begins and ends
• The car’s odometer readings at the start and end of the logbook period
• The total number of kilometers the car traveled during the logbook period
• The number of kilometers traveled for each journey (if you make two or more journeys in a row on the same day, you can record them as a single journey)
• The odometer readings at the start and end of each subsequent income year your logbook is valid for
• The business-use percentage for the logbook period
• The make, model, engine capacity, and registration number of the car

For each journey, you’ll need to record the following information:

• Reason for the journey (such as a description of the business reason or whether it was for private use)
• Start and end date of the journey
• Odometer readings at the start and end of the journey
• Kilometers traveled

You can use an electronic (Deduction Grabber) or pre-printed logbook (available from stationery suppliers) to keep track of this information. You’ll also need to keep evidence of your actual fuel and oil costs or odometer readings on which you estimate your fuel and oil use, as well as evidence of all your other car expenses.

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If this is the first year you’re using the logbook method, you’ll need to keep a logbook for at least 12 continuous weeks during the income year. That 12-week period needs to be representative of your travel throughout the year. If you started using your car for business-related purposes less than 12 weeks before the end of the income year, you can continue to keep a logbook into the next year so it covers the required 12 continuous weeks.

So long as your useage is consistent from year to year, a log book will only need to be done every five years.  Be careful with this and consult smart people like Gotax to provide more details

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