Version 12 - June 2025 (template release)
Template release pack
This release focuses on legislative content changes and corrections for the periods ending December 2024. It is available on platforms 6.28.9259, 6.29.9459, 6.30.9574, 6.31.9627, and 6.32.9713.
Release notes
- Period ended: June 2025
- Update type: Major (Legislative and Corrections).
Overview
This Australia Simplified Disclosure Template Content Version 12.0 is a major release that includes important legislative updates, along with a few corrections.
Key legislative updates in this version are effective for annual periods beginning on or after July 2024. These updates include:
- AASB 2023-3 Amendments to Australian Accounting Standards – Disclosure of Non-current Liabilities with Covenants: Tier 2 [AASB 1060]
- AASB 2024-1 Amendments to Australian Accounting Standards – Supplier Finance Arrangements: Tier 2 Disclosures [AASB 1060]
This version 12.0 release has been made available on platforms 6.28.9259, 6.29.9459, 6.30.9574, 6.31.9627 and 6.32.9713.
note
This will be the final release featuring legislative updates from our current content provider. All future releases will incorporate legislative updates from our new Big Four partner. For any questions, please contact your Client Relationship Manager, call our Support Team at 1800 074 333, or email SupportANZ@thomsonreuters.com.
Legislative update information
Accounting Reference Number | Details |
|---|---|
AASB 2023-3 | Amendments to Australian Accounting Standards – Disclosure of Non-current Liabilities with Covenants: Tier 2 [AASB 1060] The group is subject to externally imposed restrictions and must seek approval from the principal lending banks for any capital transactions that the group wishes to enter into that are in excess of $12,000,000. Under the terms of the primary bank loan, the group must further meet the following financial covenants at the end of each annual reporting period:
The group has complied with these covenants throughout the reporting period. As at 30 June 2025, the ratio of net finance cost to adjusted EBITDA was 8% (10% as at 30 June 2024). |
AASB 2024-1 | Amendments to Australian Accounting Standards – Supplier Finance Arrangements: Tier 2 Disclosures [AASB 1060] Supplier finance arrangements are characterised by one or more finance providers offering to pay amounts that an entity owes its suppliers and the entity agreeing to pay according to the terms and conditions of the arrangements at the same date as, or a date later than, when suppliers are paid. These arrangements provide the entity with extended payment terms, or the entity’s suppliers with early payment terms, compared to the related invoice payment due date. |
Corrections
ITEM ID | TITLE | DETAILS AND LIMITATIONS |
|---|---|---|
2902555 | Conditions in Tables | Added ShowConsol conditions in Consolidated Entity tables and ShowParent conditions in Parent Entity tables so that when Consolidated Entity is ticked on, only Consolidated Entity tables will appear in the Financial Report and vice versa for Parent Entity. |
2902555 | Note Numbering References/Links | Corrections in putting note numbering references/links in Note Column instead of within the line item. |
Features
There are no new features included in this release.
Content changes
ITEM ID | TITLE | DETAILS AND LIMITATIONS |
|---|---|---|
2886932 | Note 1 - Significant Transactions and Events in the Current Reporting Period | Added a section called Recent Developments that could Affect the Financial Position and Performance. |
2886932 | Note 5 - Income Tax | Added a section called OECD Pillar Two Model Rules. |
2886944 | Note 20 - Changes in Accounting Policies | Added text regarding Borrowings. |
2886931 | Statement of Financial Position | Added new line-item Liabilities under Supplier Finance Arrangement and its corresponding categories in Current Liabilities and Non-Current Liabilities. |
2886931 | Statement of Cash Flow | Added new line items Proceeds Received under a Supplier Finance Arrangement and Repayments to a Financial Institution under a Supplier Finance Arrangement. |
2886934 | Note 7 - Non-Financial Assets and Liabilities |
|
2886943 | Note 19 - Summary of Other Material Accounting Policies |
|
2903013 | Appendix | New standards and amendments with sections New Standards and Amendments – Applicable 1 July 2024 and Forthcoming Requirements. |
XBRL changes
There is no XBRL for this template.
Known issues
ITEM ID | DETAILS AND LIMITATIONS |
|---|---|
1 | For users wishing to update to 6.29 platform, please note there is a known issue where even when elements are displayed as “Never”, the report will still display the element. |
2 | There is a character limitation in grid column heading i.e., grid headers can take up to 60 characters only. Previously all column headers have been linked to the grid column. However, if the column header will exceed more than 60 characters, in such cases, please remove the link on header to the grid column and input the complete heading manually. |
Additional information
There is no additional information for this release.
Impact on existing clients
There are no impacts identified for this release.
Deviations from standard configuration
There are no deviations identified for this release.
Appendix
There are no appendix items for this release.
Related Content
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Australia Simplified Orange
Format:
Article