Transurban FY26 Corporate Report Financial statements
Section B: Notes to the Group financial statements for the year ended 30 June 2026
B3
Basis of preparation (continued)
New and amended accounting standards A number of new and amended accounting standards became effective for the annual reporting period commencing 1 July 2025, however they have had no impact on the Group. New and amended accounting standards issued but not yet effective Certain new and amended accounting standards have been published but are not mandatory for the year ended 30 June 2026. The Group's assessment of the expected impact of these standards is set out below.
Application of the standard
Application by the Group
Reference
Description and impact on the Group
The AASB has made limited scope amendments to AASB 10 Consolidated Financial Statement s and AASB 128 Investments in Associates and Joint Ventures . The amendments clarify the accounting treatment for sales or contribution of assets between an investor and its associates or joint ventures. They confirm that the accounting treatment depends on whether the non-monetary assets sold or contributed to an associate or joint venture constitute a ‘business’ (as defined in AASB 3 Business Combinations ). Where the non-monetary assets constitute a business, the investor will recognise the full gain or loss on the sale or contribution of assets. If the assets do not meet the definition of a business, the gain or loss is recognised by the investor only to the extent of the other investor’s interest in the associate or joint venture. The amendments are applicable to the Group on a prospective basis from 1 July 2028 and are not expected to materially impact the Group. AASB 18 replaces AASB 101 Presentation of Financial Statements and sets out requirements for the presentation and disclosure of information in general purpose financial statements. The key changes include: • on the face of the statement of profit and loss – newly defined ‘operating profit’ and ‘profit before financing and income taxes’ subtotals and a requirement for all income and expenses to be allocated between operating, investing and financing activities; • in the notes to the financial statements – disclosure of management-defined performance measures (MPMs) which will form part of the audited financial statements; and • aggregation and disaggregation – enhanced requirements for the aggregation and disaggregation of information (presented in the primary financial statements and in the notes) which focus on grouping items based on their shared characteristics. AASB 18 is applicable to the Group on a retrospective basis from 1 July 2027 and is expected to have an impact on how the Group presents and discloses information in its financial statements. AASB 2024-2 amends the requirements in AASB 7 Financial Instruments: Disclosures and AASB 9 Financial Instruments related to: • derecognising financial assets; • derecognising financial liabilities, including settling financial liabilities using an electronic payment system (derecognition of a financial liability before settlement date); and • assessing contractual cash flow characteristics of financial assets with environmental, social and corporate governance (ESG) and similar features. This Standard also amends the disclosure requirements relating to investments in equity instruments designated at fair value through other comprehensive income and adds disclosure requirements for financial instruments with contingent features that do not relate directly to basic lending risks and costs. The amendments are applicable to the Group on a modified retrospective basis from 1 July 2026 and are not expected to have a material impact, based on the Group’s settlement process and derecognition policies. Further, the Group currently does not have the type of financial assets impacted by amendments.
AASB 2014-10 Amendments to Australian Accounting Standards – Sale or Contribution of Assets between an Investor and its Associate or Joint Venture
1 January 2028 1 July 2028
AASB 18 Presentation and Disclosure in Financial Statements
1 January 2027 1 July 2027
AASB 2024 - 2 Amendments to Australian Accounting Standards – Classification and Measurement of Financial Instruments
1 January 2026 1 July 2026
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