NZ IFRS 16

Leases

Key areas to consider for lessees applying NZ IFRS 16 Leases in years after
first-time adoption

NZ IFRS 16 Leases introduced a fundamental change to lease accounting, bringing nearly all leases onto the balance sheet for Tier 1 and 2 for-profit lessees. In years subsequent to adoption there are many factors you need to consider at each reporting cycle. This guide highlights the ongoing requirements of NZ IFRS 16 Leases, some of the interplay with other Standards, and is intended to help you identify areas where you may need to undertake further analysis.

  • NZ IFRS 16 – This version is effective for reporting periods beginning on or after 1 Jan 2021 (early application permitted)

    Date of issue: Feb 2016

    Date compiled to: 30 Sep 2020


    Additional material: NZ IFRS 16 IASB - 1 Jan 2022

Amendments

  • Lease Liability in a Sale and Leaseback – Periods beginning on or after 1 Jan 2024 (early application permitted on a voluntary basis)

    Date of issue: Nov 2022


    Additional material: Lease Liability in a Sale and Leaseback IASB – 1 Jan 2024

Previous version

  • NZ IFRS 16 – This version is effective for reporting periods beginning on or after 1 Jun 2020 (early adoption permitted, including in financial statements not yet authorised for issue at 1 Jun 2020)

    Date of issue: Feb 2016

    Date compiled to: 11 Jun 2020


    Additional material: NZ IFRS 16 - IASB 11 June 2020

Staff Guidance: Accounting for leases under
NZ IFRS 16 Leases

Key areas to consider for lessees applying NZ IFRS 16 in years after
first-time adoption

This guide highlights the ongoing requirements of NZ IFRS 16, some of the interplay with other Standards, and is intended to help you identify areas where you may need to undertake further analysis.