When is a motor vehicle log book necessary?
When you use this method you must keep a log book for all motor cars as defined below:
The concept of a car is a statutory defined term and basically means a motor vehicle (except a motor cycle or similar vehicle) designed to carry a load of less than one tonne and fewer than nine passengers – refer to S.136(1) and S. 995-1 of Income Tax Assessment Act 1977 (‘ITAA 1997’).
Therefore if you have a ute or van or dual cab, that has a payload of 1 tonne or more, then you are not required to keep a log book as these vehicles are outside the definition of a car.
Please note that log books must be kept under all circumstances for the following vehicles:
- Station wagon
- SUV (eg 5 seater, 7 seater)
- 4 wheel drives
- Luxury Vehicles
- Panel vans or other small van with a less than one tonne load capacity
- Single cab utes with a less than one tonne load capacity
- Dual cab utes with a less than one tonne load capacity
How long does a motor vehicle log book last?
It lasts for a maximum of five (5) years unless your work circumstances change – you are then required to keep a new travel diary within this period. After 5 years, a new log book is required.
If you have any queries in relation to the above, please contact our team at The Quinn Group or submit an online enquiry form today.