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Compiled AASB Standard  AASB 140

Investment Property

This compiled Standard applies to annual periods beginning on or after 1 January 2023.  Earlier application is permitted for annual periods beginning on or after 1 January 2014 but before 1 January 2023.  It incorporates relevant amendments made up to and including 15 December 2022.

Prepared on 6 April 2023 by the staff of the Australian Accounting Standards Board.

Compilation no. 7

Compilation date:  31 December 2022

Obtaining copies of Accounting Standards
Compiled versions of Standards, original Standards and amending Standards (see Compilation Details) are available on the AASB website: www.aasb.gov.au.
Australian Accounting Standards Board
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Victoria   8007
AUSTRALIA
Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au
Website: www.aasb.gov.au

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COPYRIGHT
© Commonwealth of Australia 2023
This compiled AASB Standard contains IFRS Foundation copyright material.  Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source.  Requests and enquiries concerning reproduction and rights for commercial purposes within Australia should be addressed to The Managing Director, Australian Accounting Standards Board, PO Box 204, Collins Street West, Victoria 8007.
All existing rights in this material are reserved outside Australia.  Reproduction outside Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use only.  Further information and requests for authorisation to reproduce IFRS Foundation copyright material for commercial purposes outside Australia should be addressed to the IFRS Foundation at www.ifrs.org.

Contents

COMPARISON WITH IAS 40
ACCOUNTING STANDARD
AASB 140 INVESTMENT PROPERTY

from paragraph
Objective 1
Scope 2
Definitions 5
Classification of property as investment property or owner-occupied property 6
Recognition 16
Measurement at recognition 20
Measurement after recognition
Accounting policy 30
Fair value model 33
Inability to measure fair value reliably 53
Cost model 56
Transfers 57
Disposals 66
Disclosure
Fair value model and cost model 74
Fair value model 76
Cost model 79
Transitional provisions
Business Combinations 84A
AASB 16 84B
Transfers of investment property 84C
Effective date 85
Withdrawal of IAS 40 (2000)
Commencement of the legislative instrument
Withdrawal of AASB pronouncements Aus86.2
AppendiX
A  Australian simplified disclosures for Tier 2 entities
COMPILATION DETAILS
Deleted IAS 40 Text

AVailable on the AASB website
Basis for Conclusions on IAS 40

Australian Accounting Standard AASB 140 Investment Property (as amended) is set out in paragraphs 1 – Aus86.2 and Appendix A.  All the paragraphs have equal authority.  Paragraphs in bold type state the main principles.  AASB 140 is to be read in the context of other Australian Accounting Standards, including AASB 1048 Interpretation of Standards, which identifies the Australian Accounting Interpretations, and AASB 1057 Application of Australian Accounting