CTHRepealedLegislation
AASB 138 - Intangible Assets - July 2004
Intangible Assets with Indefinite UsefulIntangible Assets with Indefinite Useful Lives
Start here
Get a plain-English read of Intangible Assets with Indefinite Useful
Turn the raw legal text into a practical explanation grounded in AASB 138 - Intangible Assets - July 2004.
Intangible Assets with Indefinite Useful Lives
107 An intangible asset with an indefinite useful life shall not be amortised.
108 In accordance with AASB 136, an entity is required to test an intangible asset with an indefinite useful life for impairment by comparing its recoverable amount with its carrying amount:
(a) annually, and
(b) whenever there is an indication that the intangible asset may be impaired.