Scope (AASB1058_12-16_COMPdec21_01-22)

An entity shall apply this Standard to transactions where the consideration to acquire an asset is significantly less than fair value principally to enable the entity to further its objectives, and the receipt of volunteer services, except for:

(a) share-based payment transactions within the scope of AASB 2 Share-based Payment;

(b) business combinations within the scope of AASB 3 Business Combinations;

(c) insurance contracts within the scope of AASB 4 Insurance Contracts, AASB 1023 General Insurance Contracts or AASB 1038 Life Insurance Contracts;

(d) licences outside the scope of AASB 15;

(e) income taxes within the scope of AASB 112 Income Taxes; and

(f) restructures of administrative arrangements within the scope of AASB 1004.