Document ID: chunk:federal_register_of_legislation:F2025C00209:reg:221:p3
Version: federal_register_of_legislation:F2025C00209
Segment Type: reg
Provision Reference: reg 221 (pt 3/73)
Character Range: 163251–166639

that reflect how the nature and amount of income (and the resultant cash flows) are affected by economic factors. An entity considers disclosing separately the following categories of income:
           1.                    grants, bequests and donations of cash, other financial assets and goods;
           2.                    recognised volunteer services; and
           3.                    for government departments and other public sector entities, appropriation amounts recognised as income, by class of appropriation.

Non-contractual income arising from statutory requirements
      1.                  An entity shall disclose income arising from statutory requirements (such as taxes, rates and fines) recognised during the period, disaggregated into categories that reflect how the nature and amount of income (and the resultant cash flows) are affected by economic factors.
      2.                  To meet the objective in paragraph 226, an entity shall consider disclosing information about assets and liabilities recognised at the reporting date in accordance with AASB 1058 Income of Not-for-Profit Entities, including the amounts of:
           1.                    receivables that are not a financial asset as defined in AASB 132 (eg income tax receivable from a taxpayer), and:
                1.                      interest income recognised in relation to such receivables during the period; and
                2.                    impairment losses recognised in relation to such receivables during the period; and
           1.                    financial liabilities relating to prepaid taxes or rates for which the taxable event has yet to occur, and the future period(s) to which those taxes or rates relate.
      1.                  Other information that may be appropriate for an entity to disclose includes, for each class of taxation income that the entity cannot measure reliably during the period in which the taxable event occurs (see paragraphs B28–B31 of AASB 1058):
           1.                    information about the nature of the tax;
           2.                    the reason(s) why that income cannot be measured reliably; and
           3.                    when that uncertainty might be resolved.

Transfers to enable an entity to acquire or construct a recognisable non-financial asset to be controlled by the entity
      1.                  An entity shall disclose the opening and closing balances of financial assets arising from transfers to enable an entity to acquire or construct recognisable non-financial assets to be controlled by the entity and the associated liabilities arising from such transfers, if not otherwise separately presented or disclosed. An entity shall also disclose income recognised in the reporting period arising from the reduction of an associated liability.
      2.                  An entity shall disclose information about its obligations under such transfers, including a description of when the entity typically satisfies its obligations (for example, as the asset is constructed, upon completion of construction or when the asset is acquired).
      3.                  An entity shall disclose the judgements, and changes in the judgements, made in applying AASB 1058 that significantly affect the determination of the amount and timing of income arising from transfers to enable