Section RD 30 — Income Tax Act 2007: Private use of motor vehicle: 24-hour period

RD 30 Private use of motor vehicle: 24-hour period When this section applies (1) This section applies for the purposes of a calculation of the value of a benefit under section RD 29 . Meaning of day (2) In section RD 29(5)(a) and (b) , in relation to a motor vehicle and the item days in the formulas, a day is— (a) a 24-hour period starting from a time in a day that a person who owns or leases the vehicle chooses; or (b) a 24-hour period starting at midnight if paragraph (a) does not apply. Choosing starting point and notifying Commissioner (3) For the purposes of subsection (2)(a), the person must— (a) choose a starting point for the day that is a whole number of an hour after midnight; and (b) notify the Commissioner of their election when filing the next return relating to the vehicle. Elections (4) An election under subsection (2)(a)— (a) is effective from the start of the quarter, income year, or tax year to which a return relates; and (b) applies to all vehicles in relation to which the person files a return. Hour applying for 2 income years (5) If the person chooses under subsection (3)(a) a particular hour in the 24-hour period as the starting point of the day, that hour continues to apply to the use of the vehicle from the start of the relevant quarter, income year, or tax year, as applicable, for a minimum period of 2 income years. When circumstances change (6) An employer may ask the Commissioner to amend the starting point of the 24-hour period, or to treat the election as revoked, if the employer’s circumstances have changed in a way that— (a) is more than minor; and (b) makes the starting point no longer relevant to the employer’s business. Defined in this Act: business , Commissioner , day , employer , income year , motor vehicle , notify , quarter , tax year , Compare: 2004 No 35 s ND 1AB