AASB 101 Presentation of Financial Statements 73-76A: Classify a liability by the settlement terms actually in place at year end

What does 73-76A require?

Whether a liability counts as current turns on whether the right to push settlement out beyond a year actually exists on the reporting date itself; a lender's agreement reached after that date to extend repayment, or a breach that is waived only after the reporting date, does not change the classification as at that date, and covenant terms tested as at or before the reporting date are what determine the classification, not terms to be tested later.