The parent, subsidiaries, associates, key management personnel and their close family members are related parties. Transactions and balances with related parties are disclosed in the notes.
Under tax legislation, transactions with related persons must be at arm's length; otherwise there may be a disguised profit distribution through transfer pricing.
Source: TAS 24
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Transfer pricingThe pricing of goods, services and financing transactions between related persons; tax legislation requires these prices to be at arm's length.Disguised profit distributionTransferring corporate profits to shareholders or related persons outside the tax base through transactions with related persons at prices or amounts that are not at arm's length.Current account interest calculationThe product of the amount of current account movements and the number of days elapsed, used to calculate interest on a current account.Accounting policiesThe specific principles, bases, conventions, rules and practices an entity applies in preparing its financial statements.Amortised costThe amount at which a financial asset or liability is measured at initial recognition, minus principal repayments, plus cumulative amortisation calculated using the effective interest method.AssociateAn entity over which the investor has significant influence but not control or joint control.
Last updated: October 22, 2026 · This definition is for general information only.