Issue (AD_AASB112_Substantive_Enactment_12-12)

In December 2012 the AASB issued Amending Standard 2012-9 to withdraw Australian Interpretation 1039 Substantive Enactment of Major Tax Bills in Australia, effective for annual reporting periods beginning on or after 1 January 2013.

As a consequence of its decision to withdraw Australian Interpretation 1039, the AASB considered the issue of when it would be appropriate to conclude that substantive enactment of major tax Bills has occurred in Australia.