35‑45 Other assets test35‑45 Other assets test

#### 35‑45 Other assets test (1) The rules in section 35‑10 do not apply to a \*business activity for an income year if the total values of assets that are counted for this test (see subsections (2) and (4)) and that are used on a continuing basis in carrying on the activity in that year is at least $100,000. (2) The assets counted for this test, and their values for this test, are set out in this table: ```html <table cellspacing="0" cellpadding="0" style="width:364.65pt; border-collapse:collapse"><thead><tr><td colspan="3" style="width:353.95pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="TableHeading"><span>Assets counted for this test and their values</span></p></td></tr><tr><td style="width:22.2pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext" style="page-break-inside:avoid; page-break-after:avoid"><span style="font-weight:bold">Item</span></p></td><td style="width:102.7pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext" style="page-break-inside:avoid; page-break-after:avoid"><span style="font-weight:bold">Asset</span></p></td><td style="width:207.65pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext" style="page-break-inside:avoid; page-break-after:avoid"><span style="font-weight:bold">Value</span></p></td></tr></thead><tbody><tr><td style="width:22.2pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext"><span>1</span></p></td><td style="width:102.7pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext"><span>An asset whose decline in value you can deduct under Division</span><span> </span><span>40</span></p></td><td style="width:207.65pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext"><span>The asset’s </span><span style="font-size:8pt; vertical-align:3pt">*</span><span>written down value</span></p></td></tr><tr><td style="width:22.2pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext"><span>2</span></p></td><td style="width:102.7pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext"><span>An item of </span><span style="font-size:8pt; vertical-align:3pt">*</span><span>trading stock</span></p></td><td style="width:207.65pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext"><span>Its value under subsection</span><span> </span><span>70</span><span>‑</span><span>45(1)</span></p></td></tr><tr><td style="width:22.2pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext"><span>3</span></p></td><td style="width:102.7pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext"><span>An asset that you lease from another entity</span></p></td><td style="width:207.65pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext"><span>The sum of the amounts of the future lease payments for the asset to which you are irrevocably committed, less an appropriate amount to reflect any interest component for those lease payments</span></p></td></tr><tr><td style="width:22.2pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext"><span>4</span></p></td><td style="width:102.7pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext"><span>Trade marks, patents, copyrights and similar rights</span></p></td><td style="width:207.65pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.35pt; padding-left:5.35pt; vertical-align:top"><p class="Tabletext"><span>Their </span><span style="font-size:8pt; vertical-align:3pt">*</span><span>reduced cost base</span></p></td></tr></tbody></table> ``` (3) The value of such an asset is worked out: (a) as at the end of the income year; or (b) if you stopped carrying on the \*business activity during the year: (i) as at the time you stopped; or (ii) if you disposed of the asset before that time in the course of stopping carrying on the activity—as at the time you disposed of it. (4) However, these assets are not counted for this test: (a) assets that are real property or interests in real property that are taken into account for that year under section 35‑40; (b) \*cars, motor cycles and similar vehicles.