Switchboard Finance Logo – Logbook Glossary

Logbook

A Logbook is a written or digital record of kilometres driven for business versus personal purposes. Lenders use logbooks to verify Business Use %, strengthen Low Doc applications and justify commercial intent for Vehicle Finance and Equipment Finance. Related terms include Servicing, Credit Assessment, and Business Use Percentage. Useful blogs: Low Doc Vehicle Finance Guide and Fast-Track Asset Finance.

Why Logbooks Matter

Logbooks provide evidence of commercial use, which is crucial for Low Doc approvals, tax deductions and lender risk grading. They support eligibility for Tradie Finance, Truckie Finance, and Business Owners Finance.

How Logbooks Work

  • Record total km driven over a defined period
  • Identify km driven solely for business purposes
  • Help calculate accurate Business Use %
  • Required for ATO compliance in some cases
  • Lenders may request logbooks for Low Doc approvals

Official info: ato.gov.au

What is a Logbook?
A Logbook records the kilometres travelled for business versus personal use.
Why do lenders ask for logbooks?
They help lenders verify Business Use % and assess eligibility for business loans.
How long do I need to keep a logbook?
For tax purposes, ATO may require a 12-week logbook period with regular updates.
Do digital logbooks count?
Yes — lenders and the ATO accept approved digital logbook apps and software.
Does a logbook help Low Doc approvals?
Yes — strong commercial use improves eligibility for Low Doc Vehicle and Equipment Finance.