Part D
Deductions
Motor vehicle expenditure
DE 8Logbook term
A logbook term is a period to which the proportion of business use of a motor vehicle established by the logbook applies. The term lasts up to 3 years and starts and ends as described in subsections (2) and (3).
A logbook term starts on the date that is the latest of the following days:
- the first day of the income year in which a person starts to keep a logbook:
- the day that a person acquires the motor vehicle, unless the vehicle is a replacement vehicle, which is dealt with in section DE 11:
- the day immediately after the last day of the previous logbook term:
- a day that a person specifies.
The logbook term ends on the date that is the earliest of the following days:
- the day that a person disposes of the motor vehicle without replacing it:
- the day that is 3 years after the first day of the income year in which the logbook term started:
- a day that the Commissioner specifies under section DE 9:
- a day that a person specifies.
Compare
- 2004 No 35 s DE 8