Taxation Brisbane

You have to pay to the tax office you use different rules which are tax legislation for tax laws in that country so in Australia we use are shredding income tax legislation in your country may be different if you are not living in Australia but anyway there is a different rule that governs the calculation of tax that will be on your tax return okay so since we use different rules to calculate income tax expense in financial statements and tax on tax return right there is a difference between the amount calculated okay and when people say income tax expense income tax expense it’s composed of two things okay so one is current tax expense which is the amount that you actually have to pay to the tax office in the current year and the other is deferred tax expense which is the difference between how much you have to pay in the current year and how much you have to recut you have to record in the financial statement.

Contact Amour Accountants.