sec.13ZFAveraging method—replacing a business vehicle

### sec.13ZF Averaging method—replacing a business vehicle An employer using the averaging method may nominate 1 business vehicle (the replacement vehicle ) to be the replacement of another business vehicle (the original vehicle ). The employer must record the nomination in writing— during the financial year in which the nomination takes effect; or if the commissioner allows the employer to record the nomination at a later time—at the later time allowed by the commissioner. The nomination takes effect on the day stated in it. After the nomination takes effect, for the employer’s use of the averaging method the replacement vehicle is taken to be the original vehicle. The employer need not repeat, for the replacement vehicle, the steps already taken under this subdivision for the original vehicle. The employer is not required to recalculate the relevant percentage worked out for the original vehicle. The employer must keep a record of— the odometer reading of the original vehicle immediately before the nomination takes effect; and the odometer reading of the replacement vehicle immediately after the nomination takes effect. S 13ZF ins 2008 No. 16 s 9 (sec.13ZF-ssec.1) An employer using the averaging method may nominate 1 business vehicle (the replacement vehicle ) to be the replacement of another business vehicle (the original vehicle ). (sec.13ZF-ssec.2) The employer must record the nomination in writing— during the financial year in which the nomination takes effect; or if the commissioner allows the employer to record the nomination at a later time—at the later time allowed by the commissioner. (sec.13ZF-ssec.3) The nomination takes effect on the day stated in it. (sec.13ZF-ssec.4) After the nomination takes effect, for the employer’s use of the averaging method the replacement vehicle is taken to be the original vehicle. (sec.13ZF-ssec.5) The employer need not repeat, for the replacement vehicle, the steps already taken under this subdivision for the original vehicle. The employer is not required to recalculate the relevant percentage worked out for the original vehicle. (sec.13ZF-ssec.6) The employer must keep a record of— the odometer reading of the original vehicle immediately before the nomination takes effect; and the odometer reading of the replacement vehicle immediately after the nomination takes effect. - (a) during the financial year in which the nomination takes effect; or - (b) if the commissioner allows the employer to record the nomination at a later time—at the later time allowed by the commissioner. - (a) the odometer reading of the original vehicle immediately before the nomination takes effect; and - (b) the odometer reading of the replacement vehicle immediately after the nomination takes effect.