Agreed Torres, wrt pilot logbook times.
I have a copy of AAC 198-2 - I don't see it on the CASA website but it is still mentioned there as a reference on the subject of aircraft time in service.
This article replaces AAAC 120-5, and is in response to requests from industry to clarify the situation regarding the various methods used to record time in service for aircraft operating in the general aviation industry.
It goes on to describe the methods which may be used to record TIS.
Watch time as noted by the pilot.
An "approved automatic time recording instrument, installed so that it will record an elapsed time that is equal to or greater than the defined "time in service" ...
engine oil pressure switches; airspeed switches (including external vanes); main landing gear squat switches; and/or mechanical tachometers that also record engine hours.
...
In all cases where recording of time in service is achieved through use of an instrument which records a greater time than the defined "time in service" eg: mechanical tachometer, no reduction or factoring of recorded hours for maintenance purposes shall be made.