Geoff is also a Director of the Cycling Development Foundation. The requirements of AASB 139 are applied to determine whether it is necessary to recognise any impairment loss with respect to the Group’s investment in an associate or a joint venture. Without these sorts of projects, people approaching their retirement years in regional areas traditionally would have to relocate to larger towns or cities to access housing better suited to their needs. They have been consistently applied unless otherwise stated.
This contained the annual net loss to $69,000. On the upside, AHR was successful in winning a property management tender from the Rottnest Island Authority. Any reversal of that impairment loss is recognised in accordance with AASB 136 Impairment of Assets to the extent that the recoverable amount of the investment subsequently increases. Shared equity will act as a pathway for some of our affordable rental tenants, but also as a broader home ownership entry point for people on moderate incomes at a time when home ownership rates are falling across the country in most age cohorts.
Horizon House also provides counselling and support to help address the specific needs of young people, some of whom have faced significant challenges in their lives such as family conflict, physical or mental abuse, homelessness and substance abuse. Access Housing is a registered Growth Provider with the WA Housing Authority. Finally, my thanks to our tireless CEO Garry Ellender for continuing to push the boundaries, to his hardworking Executive leadership team and the amazing Access Housing staff who are truly making a difference to people’s lives. Impairment losses are recognised in proﬁt or loss immediately. Eligible companies must be based in Western Australia, have shown growth over the past few years, wish to inspire others to grow their enterprises and wish to build its proﬁle. Whilst FY2015/16 proved to be a tough year for AHR, the company was successful in winning an important tender in November 2015 for the management of Rottnest Island Authority staff housing.