Amendments to Tier 2 Classification and Presentation

Wednesday, November 11, 2026

AASB 2026-6 Amendments to Australian Accounting Standards – Tier 2 Classification and Presentation principally amends AASB 1060 General Purpose Financial Statements – Simplified Disclosures for For-Profit and Not-for-Profit Tier 2 Entities. The amendments also incorporate application guidance from AASB 18 Appendix B in a new Appendix B to AASB 1060 and update the presentation requirements for the statement of cash flows. The amendments provide not-for-profit public sector entities preparing Tier 2 general purpose financial statements (GPFS) the same presentation reliefs that are provided to not-for-profit public sector entities preparing Tier 1 GPFS.

AASB 2026-6 applies to annual reporting periods beginning on or after 1 July 2030. Earlier application is permitted. This means that Tier 2 entities are able to apply the new classification and presentation requirements at the same time as Tier 1 entities apply the requirements under AASB 18 Presentation and Disclosure in Financial Statements.