Section DE 8 — Income Tax Act 2007: Logbook term

DE 8 Logbook term Meaning of logbook term (1) 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). Start of term (2) A logbook term starts on the date that is the latest of the following days: (a) the first day of the income year in which a person starts to keep a logbook: (b) the day that a person acquires the motor vehicle, unless the vehicle is a replacement vehicle, which is dealt with in section DE 11 : (c) the day immediately after the last day of the previous logbook term: (d) a day that a person specifies. End of term (3) The logbook term ends on the date that is the earliest of the following days: (a) the day that a person disposes of the motor vehicle without replacing it: (b) the day that is 3 years after the first day of the income year in which the logbook term started: (c) a day that the Commissioner specifies under section DE 9 : (d) a day that a person specifies. Defined in this Act: business use , Commissioner , income year , logbook term , motor vehicle , year , Compare: 2004 No 35 s DE 8