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1 Nov. 2018

One-year deferral of AASB 1059 for service concession grantors

 

One-year deferral of AASB 1059 for service concession grantors:  To assist implementation efforts, the AASB has deferred the effective date of AASB 1059 Service Concession Arrangements: Grantors to annual periods beginning on or after 1 January 2020, instead of 2019.

The AASB issued AASB 2018-5 Amendments to Australian Accounting Standards – Deferral of AASB 1059 to defer the effective date after considering comments from stakeholders preparing for the implementation of AASB 1059. Some stakeholders requested a deferral of the mandatory effective date.  The AASB will further consider some implementation issues raised by stakeholders.