sec.35What is a business asset

### sec.35 What is a business asset Each of the following is a business asset — goodwill; a statutory business licence used for carrying on a business; a right to use a statutory business licence used for carrying on a business; the business name used for carrying on a business; a right under a franchise arrangement used for carrying on a business; a debt of a business if the debtor resides in Queensland; a supply right of a business; intellectual property used for carrying on a business; personal property in Queensland of a business. For subsection (1) — a business asset mentioned in subsection (1) (b) that is issued or given under— a Queensland Act is used for carrying on a business; or a Commonwealth Act is used for carrying on a business if it is used, exploited or exercised in Queensland; and another business asset is used for carrying on a business if it is used, exploited or exercised in Queensland. (sec.35-ssec.1) Each of the following is a business asset — goodwill; a statutory business licence used for carrying on a business; a right to use a statutory business licence used for carrying on a business; the business name used for carrying on a business; a right under a franchise arrangement used for carrying on a business; a debt of a business if the debtor resides in Queensland; a supply right of a business; intellectual property used for carrying on a business; personal property in Queensland of a business. (sec.35-ssec.2) For subsection (1) — a business asset mentioned in subsection (1) (b) that is issued or given under— a Queensland Act is used for carrying on a business; or a Commonwealth Act is used for carrying on a business if it is used, exploited or exercised in Queensland; and another business asset is used for carrying on a business if it is used, exploited or exercised in Queensland. - (a) goodwill; - (b) a statutory business licence used for carrying on a business; - (c) a right to use a statutory business licence used for carrying on a business; - (d) the business name used for carrying on a business; - (e) a right under a franchise arrangement used for carrying on a business; - (f) a debt of a business if the debtor resides in Queensland; - (g) a supply right of a business; - (h) intellectual property used for carrying on a business; - (i) personal property in Queensland of a business. - (a) a business asset mentioned in subsection (1) (b) that is issued or given under— (i) a Queensland Act is used for carrying on a business; or (ii) a Commonwealth Act is used for carrying on a business if it is used, exploited or exercised in Queensland; and - (i) a Queensland Act is used for carrying on a business; or - (ii) a Commonwealth Act is used for carrying on a business if it is used, exploited or exercised in Queensland; and - (b) another business asset is used for carrying on a business if it is used, exploited or exercised in Queensland. - (i) a Queensland Act is used for carrying on a business; or - (ii) a Commonwealth Act is used for carrying on a business if it is used, exploited or exercised in Queensland; and