Accounting Standard AASB 2024-4 Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128
Amendments to AASB 128Amendments to AASB 128
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Amendments to AASB 128
9 The amendments originally set out in paragraph 11 of AASB 2014-10 are reversed from AASB 128 (August 2015) for annual periods beginning on or after 1 January 2025 but before 1 January 2028. However, the amendments may be applied to annual periods beginning on or after 1 January 2014 but before 1 January 2028 when applying AASB 128 (August 2015).
10 The following amendment to AASB 128 (August 2015) applies to annual periods beginning on or after 1 January 2025, with earlier application permitted.
11 Paragraph 45C is amended as follows:
45C AASB 2014-10 Amendments to Australian Accounting Standards – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture, issued in December 2014, in conjunction with AASB 2015-10 Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128, AASB 2017-5 Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128 and Editorial Corrections, and AASB 2021-7 Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128 and Editorial Corrections, and AASB 2024-4 Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128, amended paragraphs 28 and 30 and added paragraphs 31A–31B. An entity shall apply those amendments prospectively to the sale or contribution of assets occurring in annual periods beginning on or after 1 January 2025 2028. Earlier application is permitted. If an entity applies those amendments earlier, it shall disclose that fact.