Presentation of Financial Statements (September 2007). This Standard has been revised and introduces a number of terminology changes as well as changes to the structure of the Statement of Changes in Equity and the Statement of Comprehensive Income. It is now a requirement that owner changes in equity be presented separately from non-owner changes in equity. There is no financial impact resulting from the application of this revised Standard.

Further Amendments to Australian Accounting Standards arising from AASB 101. This Standard changes the term ‘general purpose financial report’ to ‘general purpose financial statements’, where appropriate in Australian Accounting Standards and the Framework to better align with IFRS terminology. There is no financial impact resulting from the application of this Standard.

Amendments to Australian Accounting Standard arising from AASB Interpretation 17 - Distributions of Non-cash Assets to Owners [AASB 5 & AASB 110]. This Standard amends AASB 5 Non-current Assets Held for Sale and Discontinued Operations in respect of the classification, presentation and measurement of non-current assets held for distribution to owners in their capacity as owners. The PTA does not expect any financial impact when the Standard is first applied prospectively.

Amendments to Australian Accounting Standards - Improving Disclosures about Financial Instruments AASB 4, AASB 7, AASB 1023 & AASB 1038. This Standard amends AASB 7 and will require enhanced disclosures about fair value measurements and liquidity risk with respect to financial instruments. There is no financial impact resulting from the application of this Standard.

Amendments to Australian Accounting Standards arising from AASB 9 [AASB 1, 3, 4, 5, 7, 101, 102, 108, 112, 118, 121, 127, 128, 131, 132, 136, 139, 1023 & 1038 and Interpretations 10 & 12].

The amendment to AASB 7 requires modification to the disclosure of categories of financial assets. The PTA does not expect any financial impact when the Standard is first applied. The disclosure of categories of financial assets in the notes will change.

The Standard is required to be applied to annual reporting periods beginning on or after 1 January 2013.

Application of Tiers of Australian Accounting Standards

This Standard establishes a differential financial reporting framework consisting of two tiers of reporting requirements for preparing general purpose financial statements.

This Standard does not have any financial impact on the PTA. However, it may affect disclosures in the financial statements of the PTA if the reduced disclosure requirements apply. DTF has not yet determined the application or the potential impact of the new Standard for agencies.

The Standard is required to be applied to annual reporting periods beginning on or after 1 July 2013.

Amendments to the Australian Accounting Standards arising from Reduced Disclosure Requirements

This Standard makes amendments to many Australian Accounting Standards, including interpretations, to introduce reduced disclosure requirements into these pronouncements for application by certain types of entities.

The Standard is not expected to have any financial impact on the PTA. However, this Standard may reduce some note disclosures in the financial statements of the PTA. DTF has not yet determined the application or the potential impact of the amendments to these Standards for agencies.

The Standard is required to be applied to annual reporting periods beginning on or after 1 July 2013.