The 2019 financial year is going to end in 12 weeks. This is the length of time you are required to keep a logbook. Therefore if you have not kept a logbook now is the time to act.
In addition to recording all of the running costs associated with your vehicle, the following outlines what is required as part of your logbook. As a tip, you may wish to purchase a pre-prepared logbook from your local newsagent or stationery store.
LOG BOOK REQUIREMENTS
For a logbook to be compliant it must be kept for a continuous period of at least 12 weeks and must contain all of the information outlined below.
Apart from the period of 12 weeks being required, the logbook must be in English and must contain the following information for the period of the logbook:
For a particular journey
the date the journey began and ended
the car's odometer readings at the start and end of the journey
how many kilometres the car travelled on the journey
why the journey was made.
the date the log book period begins and ends
the car's odometer reading at the start and end of the log book period
the total number of kilometres that the car travelled during the log book period
the number of business kilometres travelled during the log book period (as opposed to kilometres travelled on private matters)
the business percentage - this is calculated by dividing the total business kilometres travelled by the total kilometres travelled during the log book period
To be able to claim your motor vehicle expenses using the logbook method you must have kept a compliant logbook in the current financial year, or in in the last 5 financial years.