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IAS 17 — Leases

Effective date:

First effective as Canadian GAAP under Part I for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011.  Earlier application of Part I was permitted.

Published by the IASB:

December 2003

Included in Part I of CPA Canada Handbook:

January 2010


IAS 17 Leases prescribes the accounting policies and disclosures applicable to leases, both for lessees and lessors. Leases are required to be classified as either finance leases (which transfer substantially all the risks and rewards of ownership, and give rise to asset and liability recognition by the lessee and a receivable by the lessor) and operating leases (which result in expense recognition by the lessee, with the asset remaining recognized by the lessor).

History of IAS 17

The following table shows the history of this standard subsequent to the adoption of IFRS in Canada. 




Included in Part I of the CPA Canada Handbook2

January 2010

Part I of the CPA Canada Handbook issued

Effective for interim and annual financial statements relating to fiscal years beginning on or after January 1, 2011. Earlier application is permitted.

January 2010

January 13, 2016

Issue of IFRS 16, Leases

IAS 17, Leases, has been superseded by IFRS 16 and will be withdrawn.

IFRS 16 is effective for annual reporting periods beginning on or after January 1, 2019. Earlier application is permitted, if IFRS 15, Revenue from Contracts with Customers, has also been applied.

IFRS 16 was issued in June 2016

August 1, 2018

IAS 17, Leases, withdrawn

IAS 17, Leases, has been superseded by IFRS 16. Accordingly IAS 17, Leases, has been withdrawn.

August 2018


  1. For further details of relevant developments prior to this, please refer to our Deloitte Global section.
  2. Newly issued, amended or revised IFRSs are part of Canadian GAAP only after they are approved by the Accounting Standards Board in accordance with its due process.

The above summary does not include details of consequential amendments made as the result of other projects.

Related Interpretations

Related IFRIC Agenda Rejection Notices

The rejection notices are available in our Deloitte Global section.

  • IAS 17 — Meaning of 'incremental costs'  (March 2014)
  • IAS 16, IAS 38 and IAS 17 — Purchase of a right to use land (September 2012)
  • IAS 17 — Time pattern of user’s benefit (September 2008)
  • IAS 17 — Sale and leasebacks with repurchase agreements (March 2007)
  • IAS 17 — Recognition of contingent rentals (July 2006)
  • IAS 17 — Leases of land that do not transfer title to the lessee (March 2006)
  • IAS 17 — Time pattern of user’s benefit from an operating lease (November 2005)
  • IAS 17 — Recognition of operating lease incentives under SIC-15 (July 2005)
  • IAS 17 — Finance subleases of finance leases (June 2005)
  • IAS 16 Property, Plant and Equipment and IAS 17 — Leases: Depreciation of assets leased under operating leases (November 2004)
  • IAS 17 — Consideration of the issues addressed in UITF Abstract 36 Contracts for sale of capacity (September 2003)

AcSB’s IFRS Discussion Group meetings

Amendments under consideration

  • None

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.