TPG25-15 Guidance for AASB 15 Revenue from contracts with customers
This Treasury guidance provides an overview of the requirements of AASB 15 Revenue from Contracts with Customers (AASB 15) including disclosures. However, agencies still need to review AASB 15 in detail to ensure they understand its requirements.
Issued: 22 December 2025 by Secretary, Treasury
Key information
- Status
- Active
- Type
- Treasury Policy and Guidelines
- Identifier
- TPG25-15
- Compliance
- Mandatory
Who needs to know and/or comply with this?
- Advisory Entities (including Boards and Committees)
- Councils under the Local Government Act
- Departments
- Executive agencies related to Departments
- General Government Sector
- Public Financial Corporation
- Public Non-financial Corporation
- Separate agencies
- State Owned Corporations
- Statutory Authorities/Bodies
- Subsidiaries of the NSW Government established under the Corporations Act
- ‘GSF Agencies’ as defined under the Government Sector Finance Act 2018
About
This Treasury guidance provides an overview of the requirements of AASB 15 Revenue from Contracts with Customers (AASB 15) including disclosures. However, agencies still need to review AASB 15 in detail to ensure they understand its requirements.
Overview
This TPG includes minor changes to update references for AASB15 Revenue from Contracts with Customers.
This TPG withdraws and supersedes Guidance for AASB 15 Revenue from contracts with customer.
Objective
AASB 15 became effective for NSW for-profit public sector agencies from FY2018/19 and a year later (i.e. FY 2019/20) for the not-for-profit (NFP) agencies. The key objectives are:
- a more robust framework to address revenue recognition issues
- streamline and reduce the volume of the relevant standards and interpretations
- more useful information to users through expanded disclosures
This Treasury guidance provides an overview of the requirements of AASB 15 including disclosures. However, agencies should refer to AASB 15 for the full requirements.