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Peter_Clyne(Superuser)Superuser
27 Aug 2023

I'm a solo trader, and I use my car for business (as well as personal).

I started keeping my MV logbook in early July 2023, and the 12 weeks will finish in late September.

Can I use the business % from my logbook to calculate MV deductions for FY 2023 ?

Lodgement of my 2023 tax return is due at end October 2023, so I have time to finish the logbook.

The ATO website only mentions logbooks being valid for 5 years, but nowhere can I find anything to describe exactly which 5 years can the logbook apply to.

Thanks for any best answer/s

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Peter_Clyne(Superuser)Superuser
17 Sept 2023

@JacobATO

It seems your answer might not be completely correct.

My accountant looked this up in the legislation.

He says that if my logbook is started anytime before year-end, then it can be used for to calculate MV expenses for that year. I didn't remember the actual section reference, but he found it easily.

So, I'm gonna find details for my logbook since the last week of June, and then apply the percentage to tax return for FY 2023.

My accountant said that even if my logbook starts on 30 June 2023, I can use it for FY 2023.

One day is enough.

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JacobATO(Community Support)Community Support
29 Aug 2023

Hey @Peter_Clyne


You are able to keep using the same logbook for five years if the logbook is started during the financial year (even if it’s on 30/06) you can continue into the next financial year till you meet the 12 weeks, and still use the logbook for that previous year.


Moderated for Accuracy 20/09/2023

Most helpful reply

Peter_Clyne(Superuser)Superuser
17 Sept 2023

@JacobATO

It seems your answer might not be completely correct.

My accountant looked this up in the legislation.

He says that if my logbook is started anytime before year-end, then it can be used for to calculate MV expenses for that year. I didn't remember the actual section reference, but he found it easily.

So, I'm gonna find details for my logbook since the last week of June, and then apply the percentage to tax return for FY 2023.

My accountant said that even if my logbook starts on 30 June 2023, I can use it for FY 2023.

One day is enough.

Liked by Peter_Clyne
JacobATO(Community Support)Community Support
19 Sept 2023

Hey @Peter_Clyne


You’re right, I should have included a bit more information on the Logbook method to avoid any confusion. Your accountant is correct, if the logbook is started during the financial year (even if it’s on 30/06) you can continue into the next financial year till you meet the 12 weeks, and still use the logbook for that previous year.

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