Ird vehicle log book

The requirements and issues are different for each of the three methods of accounting for motor vehicle expenses for a primer on the different methods of handling motor vehicle expenses check out our earlier article pimping your ride. Under the income tax act there are strict rules for claiming motor vehicle. Keeping a log of your motor vehicle mileage is an important and often. We also administer a number of social support programmes including child support, working for families tax credits, and best start. Some sectors of the commercial transport industry are exempt from keeping logbooks. Buy products related to driving log book products and see what customers say about driving log book products on free delivery possible on eligible purchases. Now you can keep your vehicle log book up to date with oneclick simplicity from taxtim. If you see an instalment arrangement suddenly showing in your myir for your working for families, this is a known issue and we are working on having this resolved as soon as possible. Tax payment deadline automatically extended by three months. With the mileage rate method a logbook must be kept for the entire period the. We collect most of the revenue that the new zealand government needs to fund its programmes.

If you use your own vehicle for business purposes, you may be able to deduct a percentage of your drivingrelated expenses from your taxable income. Vehicle logbook app for recording work travel our electronic logbook makes logging travel expenses for tax purposes easy. You can keep a logbook to find out how much you usually use the vehicle for business. The start date and the vehicles odometer reading on that day. On 4 july 2018 inland revenue released its finalised operational statement 1801 commissioners statement on using a kilometre rate for work related running of a motor vehicle. Exemptions from keeping logbooks however do not exempt drivers from complying with the worktime requirements. Once you have bought your vehicle, you need to decide whether you are going to claim all your expenses and use the logbook to determine. The vehicle log book is perhaps one of the most important tools for your vehicle maintenance. Vehicle logbook app for recording work trips taxtim na. Take in a filled in application for a log book v62 and.

Get our inland revenue logbook app on your phone today. Claiming business vehicle expenses what can you claim in nz. Log book records are maintained for a period of 121 weeks in one year the logbook year and are valid for five years. This can then be used for a maximum of 3 years or until the vehicle is replaced. If you are using the share of use method the ird allow you to use a. Its the logbook app that youve been waiting for how would you like a vehicle logbook, which automatically records when your trip was taken, how far you went and where you went. Use our kilometre rates to calculate the deduction for costs and. All prices on this site are goods and service tax gst inclusive. If you are using the mileage claim method then you need to keep an actual log of business mileage. The gps log book will help you easily create a tax log book for claiming vehicle expenses on your ird tax return.

All you have to do is tell it if it was a business or personal trip and it takes care of the rest. Log book entries must be made at the start and end of each travel journey. Kia ora haere mai, welcome to the new zealand inland revenue website. You can currently claim up to 77cents per business kilometre. You can download a free logbook template from the ird website.