Document ID: chunk:federal_register_of_legislation:C2025C00029:section:4:p1
Version: federal_register_of_legislation:C2025C00029
Segment Type: section
Provision Reference: s 4 (pt 1/10)
Character Range: 777869–780617

4                                              Trade marks, patents, copyrights and similar rights               Their *reduced cost base

 (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.

35‑50  Apportionment
  If an asset that is being taken into account under section 35‑40 or 35‑45 is used during an income year partly in carrying on the relevant *business activity and partly for other purposes, only that part of its *reduced cost base, *market value or other value that is attributable to its use in carrying on the business activity in that year is taken into account for that section.

35‑55  Commissioner's discretion
 (1) The Commissioner may, on application, decide that the rule in subsection 35‑10(2) does not apply to a *business activity for one or more income years (the excluded years) if the Commissioner is satisfied that it would be unreasonable to apply that rule because:
 (a) the business activity was or will be affected in the excluded years by special circumstances outside the control of the operators of the business activity, including drought, flood, bushfire or some other natural disaster; or
Note: This paragraph is intended to provide for a case where a business activity would have satisfied one of the tests if it were not for the special circumstances.
 (b) for an applicant who carries on the business activity who satisfies subsection 35‑10(2E) (income requirement) for the most recent income year ending before the application is made—the business activity has started to be carried on and, for the excluded years:
 (i) because of its nature, it has not satisfied, or will not satisfy, one of the tests set out in section 35‑30, 35‑35, 35‑40 or 35‑45; and
 (ii) there is an objective expectation, based on evidence from independent sources (where available) that, within a period that is commercially viable for the industry concerned, the activity will either meet one of those tests or will produce assessable income for an income year greater than the deductions attributable to it for that year (apart from the operation of subsections 35‑10(2) and (2C)); or
 (c) for an applicant who carries on the business activity who does not satisfy subsection 35‑10(2E) (income requirement) for