Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p10
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 10/10)
Character Range: 775883–777269

property or interests in real property used on a continuing basis in carrying on the activity in that year is at least $500,000.
 (2) You may use the *market value of the real property or interest if that value is more than its *reduced cost base.
 (3) The *reduced cost base or *market value 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) a *dwelling, and any adjacent land used in association with the dwelling, that is used mainly for private purposes;
 (b) fixtures owned by you as a tenant.

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:

Assets counted for this test and their values
Item                                           Asset                                                             Value