Business performance
Directors' Report
Financial statements
Assurance statements
Security holder information
Introduction
Stakeholders Sustainability Governance and risk
Contents
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 issued but not yet effective (continued)
Application by the Group
Application of the standard
Reference
Description and impact on the Group
AASB 2024 - 3 Amendments to Australian Accounting Standards – Annual Improvements Volume 11
AASB 2024-3 makes minor improvements to the following accounting standards to address inconsistencies or to clarify requirements: • AASB 1 First-time Adoption of Australian Accounting Standards ; • AASB 7 Financial Instruments: Disclosures ; • AASB 9 Financial Instruments ; • AASB 10 Consolidated Financial Statements ; and • AASB 107 Statement of Cash Flows . 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 on the Group, as the changes are minor and include improving the consistency between standards and clarifying existing requirements. AASB 2025-1 amends AASB 7 Financial Instruments: Disclosures and AASB 9 Financial Instruments to allow entities to better reflect contracts referencing nature-dependent electricity in the financial statements, which are often structured as power purchase agreements (PPAs). These amendments: • clarify the application of the 'own-use' criteria to nature-dependent electricity contracts; • permit hedge accounting if these contracts are used as hedging instruments; and • add new disclosure requirements to enable users of financial statements to better understand the effect of these contracts on an entity's financial performance and cash flows. 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 on the Group, as it currently does not have the type of PPAs impacted by these amendments. AASB 2025-4 amends AASB 121 The Effects of Changes in Foreign Exchange Rates and AASB 129 Financial Reporting in Hyperinflationary Economies to clarify currency translation procedures when an entity's presentation currency is hyperinflationary, but its functional currency is not. All amounts, including comparative figures, must be translated at the closing rate of the most recent reporting period. The amendments are applicable to the Group on a retrospective basis from 1 July 2027 and are not expected to have a material impact on the Group, as it does not have a presentation currency that is hyperinflationary.
1 January 2026 1 July 2026
AASB 2025 - 1 Amendments to Australian Accounting Standards – Contracts Referencing Nature- dependent Electricity
1 January 2026 1 July 2026
AASB 2025 - 4 Amendments to Australian Accounting Standards – Translation to a Hyperinflationary Presentation Currency
1 January 2027 1 July 2027
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