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Note 5. Fair value measurements

Category

Fair value measurements at the end of the reporting period

2020
$

2019
$

Non-financial assets

Cultural

Level 2

12,000

12,000

Total non-financial assets

12,000

12,000

Total fair value measurement of assets in the statement of financial position

12,000

12,000

AITSL does not hold any non-financial liabilities.

No assets or liabilities have been transferred between value levels during the year.

The observable inputs used in the fair value measurement of cultural assets are independent valuations dated 26 June 2015, based on recent sales value.