6 paragraphs found in AD-AASB 112 [12-12]
In considering the issue of when it would be appropriate to conclude that substantive enactment of major tax Bills has occurred in Australia, the Board noted that AASB 112 Income Taxes requires tax assets and liabilities to be measured based on tax rates …
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 …
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 …
Board members observed that the assessment of whether a tax Bill is substantively enacted in Australia, in accordance with paragraph 48 of AASB 112, requires the application of …
In considering the issue, the Board noted that, under AASB 112, substantive enactment is determined by the legal framework of a jurisdiction, and that substantive enactment would not occur until any significant uncertaint y about the outcome of a tax Bill …
The Board is of the view that existing guidance in AASB 112 is sufficient to address the issue of whether substantive enactment has occurred. The Board is not aware of current diversity in practice in Australia and has issued this agenda decision on the …