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AASB Standard  AASB 2024-4
               November 2024

Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128
[AASB 10 & AASB 128]

Obtaining a copy of this Accounting Standard
This Standard is available on the AASB website: www.aasb.gov.au.

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Victoria   8007
AUSTRALIA

Phone: (03) 9617 7600
E-mail: standard@aasb.gov.au
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E-mail: standard@aasb.gov.au

COPYRIGHT

© Commonwealth of Australia 2024

This 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.

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ISSN 1036-4803

Contents

Preface
Accounting Standard
AASB 2024-4 Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128

from paragraph
Objective 1
Application 2
AMENDMENTS TO AASB 10 6
AMENDMENTS TO AASB 128 9
COMMENCEMENT OF THE LEGISLATIVE INSTRUMENT 12

Australian Accounting Standard AASB 2024-4 Amendments to Australian Accounting Standards – Effective Date of Amendments to AASB 10 and AASB 128 is set out in paragraphs 1–12.  All the paragraphs have equal authority.

Preface

Standards amended by AASB 2024-4
This Standard makes amendments to AASB 10 Consolidated Financial Statements (July 2015) and AASB 128 Investments in Associates and Joint Ventures (August 2015).
These amendments relate to International Financial Reporting Standard Effective Date of Amendments to IFRS 10 and IAS 28, issued by the International Accounting Standards Board (IASB) in December 2015.

Main features of this Standard

     Main requirements
This Standard defers the mandatory effective date (application date) of amendments to AASB 10 and AASB 128 that were originally made in AASB 2014-10 Amendments to Australian Accounting Standards – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture so that the amendments are required to be applied for annual reporting periods beginning on or after 1 January 2028 instead of 1 January 2025.
The amendments in AASB 2014-10 originally applied to annual reporting periods beginning on or after 1 January 2016, but were later deferred by the IASB indefinitely.  Due to legal requirements, the AASB is unable to defer the amendments indefinitely, and instead