AASB 136 Impairment of Assets 117-121,Aus120.1: Reversal for an individual asset: never raise the carrying amount above what it would have been net of depreciation or amortisation had no loss been recognised, recognise the reversal in profit or loss, or as a revaluation increase where the asset is carried at a revalued amount, taken through other comprehensive income (with profit or loss recognition to the extent the earlier loss was expensed; class basis for not-for-profit entities), and re-base future depreciation

What does 117-121,Aus120.1 require?

For an asset other than goodwill, the increased carrying amount after a reversal may not exceed the carrying amount, net of depreciation or amortisation, that would exist had no impairment ever been recognised; anything above that is a revaluation handled under the Standard governing the asset. The reversal goes immediately to profit or loss, or, where the asset is carried at a revalued amount, is treated as a revaluation increase: credited to other comprehensive income and added to the revaluation surplus for that asset, but recognised in profit or loss to the extent the earlier loss on that asset was expensed. Not-for-profit entities apply this by class of asset: the reversal goes to profit or loss to the extent a loss on the same class was previously expensed. After the reversal, depreciation or amortisation is recalculated to allocate the revised carrying amount less residual value over the remaining useful life.