Level of toxicity of nitrate depends on the animal in question and the temperature of water. Thats why theres not enough info, because there are lots of variables in each individual case. Considering an axies natural environment and their low temp reqirement, I'd say 40ppm is probably below their tolerance levels. However, you really want your nitrate to be as low as humanly possible. With the addition of a few live plants you can get you nitrate down to an unmeasurable point (even without water changes). I'd suggest adding some Hygrophilia spp. (Hygrophilia deformis is my favourite). They grow ungodly fast, sucking up all excess nutrients, nitrate, and CO2 as they do so. Not only will they keep your nitrate down, but they will stop most algae from growing. And they will provide more hiding places for your axies, and look really nice.}