The Australian Accounting Standards Board (AASB) has issued Exposure Draft ED 253 Recognition of Deferred Tax Assets for Unrealised Losses. The AASB says the ED (which incorporates the IASB ED of the same name) seeks comments on the proposals to amend AASB 112 Income Taxes to clarify how to account for deferred tax assets related to debt instruments measured at fair value when the entity reports tax losses.
Comments are due by 20 November 2014 and can be sent to: The Chairman, Australian Accounting Standards Board, PO Box 204, Collins Street West Victoria 8007 – email: standard@aasb.gov.au.
[LTN 162, 22/8/14]